Bill to Provide Charitable Giving Incentives Passes in the House

Passed July 17 by a vote of 277 to 130, the America Gives More Bill (HR 4719) includes provisions for an enhanced deduction for contributions of food, makes permanent the IRA charitable contribution, allow contributions make between Jan 1 – Apr 15 to be attributable to the previous taxable year, and others.

The bill would lower federal revenue by $16.2 billion from 2014-2024. Without any revenue offset, the bill has been threatened with a veto from the Obama administration. The complaint is that the deficit reduction that was enacted with the fiscal cliff legislation would be wiped out.

IRSspecialprosecuter

Maybe this hasn’t been the most functional legislature in recent past, but you can’t fault them for not trying.

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