Rep. Capito Supports Bill to Expand Charitable Giving Tax Deductions

Press Release

U.S. Representative Shelley Moore Capito (R-W.Va.) voted yes today on bipartisan legislation to increase charitable giving and help our nation's charities.

H.R. 4719, the America Gives More Act, is a package of five bills that helps American charities and foundations by clarifying, expanding and making permanent select tax deductions for individuals and companies making charitable donations. The America Gives More Act passed the U.S. House of Representatives 277-130.

"West Virginians value the spirit of charity and give generously of their time and money to causes they find meaningful. I am proud to encourage individuals and corporations to donate money and resources to charitable causes and foundations, and I hope that this good legislation will increase charitable giving and benefit worthy causes worldwide," Rep. Capito said.

The America Gives More Act would:

Allow individual taxpayers to deduct charitable contributions made before April 15 for the previous year's return
Permit certain tax-free IRA deductions for charitable giving
Make permanent the deduction for contributions of conservation easements
Expand the charitable deduction for companies donating food inventory for charity
Lower and simplify the excise tax on private foundations.

Source