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ARTICLE · 06 JUNE 2019

Newsbits - Not-For-Profit Group Newsletter – Spring 2019

Will the recent federal tax overhaul hurt charitable giving? Two U.S. senators want an answer in hard facts.

United StatesTechnology

Senators Pursue Charitable Giving Data

Will the recent federal tax overhaul hurt charitable giving? Two U.S. senators want an answer in hard facts. Sens. Chris Coons (D-Del.) and James Lankford (R-Okla.) have sent the Trump administration a letter asking it to provide available data on charitable deductions in 2018. They note that the Tax Cuts and Jobs Act's near doubling of the standard deduction changes the incentives for taxpayers to itemize and claim the charitable deduction.

The senators also cite two nonpartisan think tanks that estimate this could result in a drop in charitable giving of 4-5%. In addition to currently available data, the senators requested quarterly data on the number of charitable deductions claimed, the average size of donations and, when available, a comparison to the previous ten years.

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