Rep. David Camp Releases Tax Reform Act of 2014
On February 26, Rep. David Cam (R-4th MI) unveiled his legislation to lower tax rates, simplify the tax code, and encourage economic growth. The “Tax Reform Act of 2014” also has provisions for the charitable deduction, such as setting a floor rather than a cap to the amount of donations that can be deducted.
Independent Sector has submitted comments on Rep. Camp’s changes to the charitable deduction. It states that some of the provisions in the Tax Reform Act may have a negative impact on the incentive, possibly causing charitable giving to decrease.