Charities Move to Offset Effects of GOP Tax Bill

Charities Move to Offset Effects of GOP Tax Bill

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Congress included a universal deduction in a 1981 tax bill, dubbed the “Christmas-tree bill” because of the many tax-cutting ornaments added by lawmakers, according to a 2016 report by the Tax Policy Center. That bill phased in above-the-line charitable deductions over five years, starting at 25 percent for the first $100 of giving in 1982 and ultimately allowing a deduction for all charitable giving by 1986. But the provision had a five-year sunset, and the sweeping 1986 tax-reform bill didn’t renew the break.
 
“Not everyone had complete buy-in because it was so small from the very beginning,” said David Thompson, vice president of public policy at the National Council of Nonprofits.
Source Name: 
National Journal

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