To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities.

Summary

This bill allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions. The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.

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Timeline

1. 31 March 2020

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 31 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 31 March 2020 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 31 March 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 31 March 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 31 March 2020

  Open at official source

Sponsors

• Seth Moulton · D · Sponsor
• Bradley Schneider · D · Sponsor
• · hswm00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving.
• related to → To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities.