Policy Update

Hurricane Katrina National Policy News

9/14/2005

Source: The Community Foundation for Greater Atlanta

Katrina Tax Relief Package Includes Significant Charitable Provisions 09/14/05
Prioritizing short-term relief for Hurricane Katrina victims, Finance Committee Chair Chuck Grassley, R-Iowa, said in a September 12 press conference that he and panel ranking minority member Max Baucus, D-Mont., are working on an "immediate-relief" package, to be followed by a long-term tax incentives program. Included in the package are significant charitable incentives including the long awaited charitable IRA rollover, increasing the annual percentage deduction limitations for individuals and corporations, and others.

Panel on the Nonprofit Sector Endorses Finance Tax Relief Package 09/14/05
In a September 13 release, the Panel on the Nonprofit Sector endorsed the short-term tax relief package recently presented by Finance Committee Chair Chuck Grassley, R-Iowa, and ranking minority member Max Baucus, D-Mont., saying it "represents an important first step" toward providing relief to victims of Hurricane Katrina.

House to Act on Katrina Charitable Giving Package This Week, DeLay Says 09/14/05
House Majority Leader Tom DeLay, R-Texas, said September 13 that the chamber will first act on a bill to encourage charitable giving in response to Hurricane Katrina and that any broader tax package will come the week of September 19 at the earliest.

Katrina Relief Makes Charity Reform in CARE Act Untimely, Says Santorum 09/14/05
The delayed governmental response in the aftermath of Hurricane Katrina has caused Senate Finance Social Security and Family Policy Subcommittee Chair Rick Santorum, R-Pa., and several charity officials to be wary of including charitable reform proposals in the CARE Act.

Santorum Praises Charities' Response to Hurricane at Finance Panel Hearing 09/14/05
In his opening statement at a September 13 Senate Finance Committee panel hearing on charitable giving, panel Chair Rick Santorum, R-Pa., praised the "stunning display" by charities aiding Hurricane Katrina victims, urged quick passage of the CARE Act, and stressed the need for "robust" IRS enforcement of excise tax laws.

Charitable Alliance Praises Charities' Help for Katrina Victims; Cautions Against New Regs 09/14/05
In a September 13 release, the day of a Senate Finance Committee panel hearing on charitable giving, the Alliance for Charitable Reform supported the CARE Act, S. 6, providing increased incentives for charitable donations, but cautioned against charitable reforms that in reality are "merely additional bureaucratic regulations."