WASHINGTON, D.C.— The Joint Committee on Taxation (JCT) released a report this week addressing the findings of 11 House Ways and Means Committee tax reform working groups, including the Charitable/Exempt Organizations working group. In addition to the working group findings, the 568-page report also provides a summary of various suggestions made by lawmakers, businesses and individuals during a public comment period. The Alliance for Charitable Reform (ACR) submitted a letter for the public record focusing on issues to expand charitable giving including preserving the charitable deduction, streamlining the Private Foundation (PF) excise tax, and modifying the Pease limitation on the charitable deduction.
Chairman David Camp (R-MI) and Rep. Sander Levin (D-MI) announced the working groups in mid-February. Camp and Levin offered the following statement upon the report’s release:
“Over the past two-plus months the JCT has worked tirelessly alongside Ways and Means Committee Members of the 11 Tax Reform Working Groups. The release of today’s report reflects the hard work of Members and staff. This document provides an important and comprehensive overview of the tax code, an overview of some of the most commonly referenced previous tax reform proposals and summarizes the views of more than 1,300 submissions offered to the Ways and Means Committee by key stakeholders. The Committee will dig into its details over the coming weeks.”
This report will play an extremely important role as tax reform moves forward. As part of the public record, it will remain a source of information for lawmakers to consult as they begin crafting comprehensive tax policy changes. The report also shines light on the input the working group received in its private sessions with members of the philanthropic community. The JCT report provides background on current law (pp 19-58) and specifically identifies comments received on charitable deductions (pp 491-97.)
ACR hopes the report will aid lawmakers in continued support of preserving the charitable deduction, a key focus of the charitable community as it has been widely considered as a source of revenue for government spending or to pay down the deficit. ACR, along with the Charitable Giving Coalition, has been very vocal in stressing to lawmakers that the charitable deduction is different, the benefit is to the recipient of charity, and that it must be protected.
You can read ACR’s full letter to the Committee here.
ACR, a project of The Philanthropy Roundtable comprised of nonprofit leaders and groups, serves as a leading voice on opposing legislative or regulatory proposals that could diminish private giving.
For more information about ACR contact Molly Edwards at firstname.lastname@example.org or at 202-822-8333.