S. 1981 Excludes Key Incentive for Charitable Giving: An Expansion of the Charitable Tax Deduction

The bill aligns with a proposal promoted by the so-called Initiative to Accelerate Charitable Giving with one key difference. The backers of the initiative also called for an expansion and extension of the above-the-line charitable deduction for non-itemizers created by the CARES Act. The bill inexplicably does not include this additional “carrot” that would encourage an increase in charitable giving without the damaging consequences of the other provisions.