To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 27, 2020)
This bill allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions.
The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.
What just happenedMar 27, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseMar 27, 2020
- Mar 27, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Mar 27, 2020IntroReferralIntro-H
Introduced in House
- Mar 27, 2020IntroReferral1000
Introduced in House