posey.house.gov

Posey, Bill

Washington, February 13, 2015 -

With the support of Congressman Bill Posey (R-Rockledge), the U.S. House of Representatives passed legislation to aid in the fight against hunger and help promote charitable giving by making certain tax deductions for charitable donations permanent. The America Gives More Act (H.R. 644) was approved with a bipartisan vote of 279 -137.

“In order to fulfill their respective missions, charitable organizations rely heavily on the generosity of fellow Americans,” said Congressman Posey. “One of the most effective ways to promote giving is through our tax code and this legislation will provide more certainty by making specific charitable tax deductions permanent.”

The America Gives More Act allows tax-free distributions from IRAs for charitable purposes, encourages contributions to local food banks by making permanent a food-inventory donation provision in the tax code, makes permanent the temporary deduction for contributions of conservation easements, and other changes to make giving less expensive.

According to the National Philanthropic Trust, 95.4 percent of American households give to charity. In 2013, Americans gave approximately $335 Billion to charitable causes and organizations, and the United States is ranked at the top of 2014 World Giving Index.