Policy Update

CARE Act Re-introduced in the Senate and House

10/04/2005
Source: OMB Watch

On September 27, Sens. Rick Santorum (R-PA) and Joe Lieberman (D-CT) introduced S. 1780, the Charity, Aid, Recovery and Empowerment Act (CARE). The legislation includes charitable giving incentives such as tax-free charitable contributions from Individual Retirement Accounts (IRA), and partial deductions of charitable contributions for taxpayers who do not itemize their tax returns.

In an attempt to neutralize the charitable reform package expected to come from the Senate Finance Committee, Santorum also included accountability provisions designed to improve oversight of charities. A companion bill in the House does not include the accountability provisions. More:
http://www.ombwatch.org/article/articleview/3120/1/396