Using the Whole Whale - A Nonprofit Podcast
Business:Non-Profit
"The Charitable Act," a new bill in Congress, was introduced on January 24, 2023, by Senators James Lankford (R-OK) and Chris Coons (D-DE). As reported by The Nonprofit Times explains that the bill would allow anyone who donates to a charity to benefit from both the standard deduction and the charitable deduction. This would be a significant change from the current tax code, which only allows taxpayers who itemize their deductions to claim a charitable deduction.
The bill has the support of a number of nonprofit organizations, including the National Council of Nonprofits and the Charitable Giving Coalition. If the bill is passed, it could lead to increased charitable giving, which would benefit all nonprofits.
The bill is currently being considered by the Senate Finance Committee. If the bill is passed by the Senate, it will then go to the House of Representatives for consideration. The bill has a good chance of passing both chambers of Congress and being signed into law by President Biden.
The passage of "The Charitable Act" would be a major victory for nonprofits and would help them to continue their important work in communities across the country.
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Summary
250: (news) Afghanistan & Haiti - How Nonprofits are Responding
249: (news) Half of U.S. Gives & ASPCA Overhead Questions
248: From Fellow to Fulltime - Kariesha Martinez exit interview
247: (news) Bezos Blasts Off Donation & Nonprofit Trust Report
246:(news) Nonprofit Closure Trend & Steph Curry Joins NinetyToZero
245:(news) Fundraising Scrutiny & Frontline SMS Closes
244: (news)Donor Disclosure Fight & NCAA Athletes Can Earn
243: Ann Nguyen Exit Interview Podcast
242: (news) Buffett donates Billions Leaving Gates & NFL Pride History
241: The Story of freeCodeCamp - founder interview
240: (news) 5% Rise in US Giving & Juneteenth Official
239: (news) DAF legislation & Nonprofit Wins Pulitzer
238: How To Travel Ethically - Author interview
237: (news) Direct mail price hikes & OpenSecrets.org Launches
236: (news) Nonprofits in Tulsa & USAID Russian Hack
235: (news) Carbon Capture & Fighting Voter Suppression
234: Volunteering through the Pandemic with Golden
233:(news) $1B Meme Coin Donations & Nonprofit job report
232:(news) Gates Foundation Divorce & Vaccine Awareness work
231: Your Voice Matters: Author Interview
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