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Encourage charitable giving with tax deductions - H.R. 1704
  • Charities that have played a crucial role in helping individuals cope with the pandemic depend upon charitable giving, which can be encouraged through tax incentives.
  • Encouraging Americans through tax credits to give to frugal, efficient and trusted charities helps ensure that needy individuals get immediate and effective help at the local level, without the red tape and inefficiencies that can hinder the effectiveness of federal government aid programs.
  • After the CARES Act $300 universal charitable deduction became law, the Fundraising Effectiveness Project found that gifts of $250 or less increased by 17.1 percent in 2Q and 3Q 2020 as compared with the same quarters in 2019. While overall giving increased due in part to 2020’s crises, this increase in small gifts reversed historical trends by far outpacing the increase in gifts of $250 or more.

This bill would:

  • ensure that Americans who donate to charities, houses of worship, religious organizations, and other nonprofits are able to deduct that donation from their federal taxes at a higher level than the current $300 deduction, by raising the current UCD’s caps ($300 for individuals and $600 for married couples) to over $4000 for individuals and $8000 for married couples; and
  • eliminate the current UCD exclusion of gifts to donor advised funds so cash contributions to DAFs could be deducted.
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