New research from the Tax Policy Center has told us how charitable giving will be affected by the House tax reform bill, H.R. 1, the Tax Cuts and Jobs Act, and it’s basically what we already knew.

Even though the House version of the Tax Cuts and Jobs Act (TCJA) preserves the charitable income tax deduction, other income tax provisions of the bill could reduce charitable giving by between $12 billion and $20 billion in 2018, based on new estimates from the Tax Policy Center.

The evidence is now stacking up – the unintended consequence of current tax reform policies under consideration is a reduction in charitable giving. Charities have rallied behind a universal charitable deduction as a way to protect against the consequences of an expanded standard deduction documented by JCT and IU. One legislative option available to lawmakers in the House is H.R. 3988, the Universal Charitable Giving Act of 2017, which was authored by Rep. Mark Walker (R-NC) and would expand the charitable deduction to all Americans.

Read the full article on H.R. 1 by Marques Chavez at Alliance For Charitable Reform