Senators Voice Support for Preserving the Charitable Deduction
One third of the Senate signed a letter in support of preserving the charitable deduction as it currently exists in any future re-writes of the nation’s tax code. The letter, authored by Senators John Thune (R-SD) and Ron Wyden (D-OR), is addressed to Senate Finance Committee Chair Max Baucus (D-MT) and states that: “[t]he charitable deduction is unique . . . the only provision that encourages taxpayers to give away a portion of their income for the benefit of others. For this reason, it is not a loophole, but a lifeline for millions of Americans in need.” The letter began circulating in the Senate in November during the Charitable Giving Coalition’s “Protect Giving Day.” You can read the full text of the letter and the list of the 33 signatures here.