Griffin: Bill Simplifies Tax Code to Encourage Charitable Giving

Jul 17, 2014 Issues: Congressional Issues, Tax Reform

WASHINGTON – Congressman Tim Griffin (AR-02), a member of the Ways and Means Committee, released the following statement after the House passed the America Gives More Act (H.R. 4719) to permanently extend and reform provisions in our tax code:

“By simplifying our tax code and providing certainty to taxpayers, today’s bill encourages charitable giving with expanded opportunities to make contributions and enables charities and foundations to better serve those in need. It also preserves conservation easements, which benefits hunters and farmers in Arkansas. This bipartisan bill makes smart policy changes to help make a positive difference in our communities, and I am proud to support it.”

Rep. Griffin is a cosponsor of H.R. 4719, which combines five bills reported out of the Ways and Means Committee on May 29, 2014 that are designed to encourage and increase charitable giving. The package bill includes H.R. 4719, H.R. 4619, H.R. 2807, H.R. 4691 and H.R. 3134.

The legislation makes permanent:

-          An extension and expansion of charitable deduction for contributions of food inventory (H.R. 4719)

-          Certain tax-free distributions from Individual Retirement Accounts (IRAs) for charitable purposes (H.R. 4619)

-          Deductions for contributions of conservation easements (H.R. 2807)

-          A flat excise tax on private foundations (H.R. 4691)

The legislation also extends the ability to make tax deductible charitable contributions through April 15th for every tax year (H.R. 3134). The usual end of the tax year is December 31st.