The Alliance for Charitable Reform (ACR) released the following statement upon today’s release of the House Republican tax reform bill, H.R. 1, the Tax Cuts and Jobs Act.

“Tax reform should help increase charitable giving by protecting and expanding the charitable deduction, making it universally available to Americans of all income levels. Charitable giving is not just the province of the rich and we strongly encourage the House to include the universal charitable deduction in tax reform. It will not only unlock additional charitable giving, it recognizes the principle that all charitable gifts are analogous, regardless of whether they were given by a large or small donor." - Adam Meyerson

H.R. 3988 would permit all Americans to take a charitable deduction, even those who do not itemize and opt for a standard deduction. It would allow non-itemizers to deduct charitable contributions up to one-third of the amount of the standard deduction. The legislation also preserves the current charitable deduction for those who itemize.

Read the full article about charitable tax reform by Alliance For Charitable Reform