Policy Update

Hurricane Katrina and Giving Incentives, Charitable Deductions

9/15/2005

Source: Planned Giving Design Center

Ways and Means Proposes Katrina Relief With Charitable Giving Incentives 09/15/05

House Ways and Means Committee members late September 14 introduced the Katrina Emergency Tax Relief Act of 2005, which includes several charitable giving incentives targeted to victims of Hurricane Katrina; House leadership has scheduled the bill for a floor vote on September 15.

Grassley Introduces Hurricane Katrina Tax Relief Act of 2005 09/15/05

On September 14, Senate Finance Committee Chair Chuck Grassley, R-Iowa, introduced S. 1696, the Hurricane Katrina Tax Relief Act of 2005, which would provide various forms of tax relief to victims of Hurricane Katrina and provide incentives for charitable giving related to the disaster.

Nonprofits' Letter Urges Charitable Deduction for Nonitemizing Taxpayers 09/15/05
Nine hundred and forty-two nonprofits sent a September 12 letter to Finance Committee Chair Chuck Grassley, R-Iowa, asking him to support the reinstatement of the charitable deduction for the "more than two-thirds of Americans" who do not itemize their deductions; the letter says that group donates $36 billion annually to charities.