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.
USA116th CongressHR-6424| House
| Updated: 3/31/2020
Seth Moulton
Democratic Representative
Massachusetts
Cosponsors (1)
Ways and Means Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
AppropriationsCardiovascular and respiratory healthCharitable contributionsDepartment of the TreasuryEmergency medical services and trauma careExecutive agency funding and structureGovernment lending and loan guaranteesIncome tax deductionsInfectious and parasitic diseasesSocial work, volunteer service, charitable organizationsTax-exempt organizations
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.
USA116th CongressHR-6424| House
| Updated: 3/31/2020
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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Seth Moulton
Democratic Representative
Massachusetts
Cosponsors (1)
Ways and Means Committee
Taxation
Related Bills
- HR 116-1260: 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.
- HR 116-6408: 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.
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
AppropriationsCardiovascular and respiratory healthCharitable contributionsDepartment of the TreasuryEmergency medical services and trauma careExecutive agency funding and structureGovernment lending and loan guaranteesIncome tax deductionsInfectious and parasitic diseasesSocial work, volunteer service, charitable organizationsTax-exempt organizations