Nonprofits Ask Congress For Tax Incentives, $60B Stimulus

Nonprofits Ask Congress For Tax Incentives, $60B Stimulus

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Congress should provide a universal charitable giving deduction for contributions through the end of 2021, according to the Wednesday letter sent to congressional offices from more than 90 charitable and other nonprofit organizations including the National Council of Nonprofits, United Way Worldwide and the American Red Cross. Charitable giving dropped after the 2008 recession and will likely drop again, the letter said.

The letter gained additional signers Thursday, to more than 140, the National Council of Nonprofits said. 

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“Nonprofits are truly indispensable and many are on the front lines of the response to COVID-19 right now, including providing child care for doctors, nurses and other first responders,” Rick Cohen, the chief operating officer of the National Council of Nonprofits, told Law360. “And many were on the brink, even before this crisis hit.”
 
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David Thompson, vice president of public policy for the National Council of Nonprofits, called the McConnell proposal “a start” and said it's a “negotiating document.”

“On charitable giving, the good news is that an above-the-line deduction is included, albeit at a minimal $300 per person cap and it only applies starting in 2020,” he said. “That's not the immediate relief that nonprofits need right now. But it is a start toward a major nonprofit policy priority.”
 
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Law360
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