Recent developments in the House of Representatives include the introduction of H.R. 5806 to make permanent the charitable tax extenders, including the IRA charitable rollover and the enhanced deductions for conservation easements and food inventory donations.
The key to passage may rest with procedural matters -- that is, how to get the bill to the President. Presumably, it would need to be passed by the House with a two-thirds majority under suspension of the rules, followed by the Senate's adoption by unanimous consent.
In order for the bill to pass the House, 50-65 Democrats are needed to vote in favor of the bill. The following link lists the Democratic members of the House that voted in favor of the “America Gives More Act” (H.R.4719) and would be most likely to vote in favor of this bill.
The vote could take place at any time this week so quick action is needed.
What you can do:
1. Call your House Member, especially if they are one of the Democratic members in the list above, and use the following talking points to encourage them to pass the bill that will include a permanent extension of the IRA Rollover provision.
2. Please circulate this message among your colleagues and urge them to call in.
3. If you make contact with your House Member's office, please let us know their response be emailing [email protected].
You can find your House Member's contact information here: http://www.house.gov/representatives/
- I'm calling as a constituent with [INSERT NAME OF YOUR ORGANIZATION and a BRIEF description of your mission]. The House is poised to place a bill on the suspension calendar that would permanently extend three key charitable giving provisions, including the IRA Rollover provision. I urge [INSERT HOUSE MEMBER] to vote in favor of this important bill that will do so much to enhance the philanthropic missions of America's charities.
- The IRA Rollover provision allows individuals over 70.5 years of age to give charitable gifts from their IRA's without a tax penalty. Tax incentives such as the IRA Charitable Rollover provision play a vital role in encouraging donors to make gifts. The rollover provision is a powerful and unique way that donors can support charitable causes in their communities.
- Private donations help leverage the impact of government investments and allow charities to provide the programs and services that do much to augment the work of the government.
- It is estimated that there is more than $3 trillion in retirement funds such as IRAs. Many individuals have more than sufficient funds to retire comfortably. Even if only a small percentage of these funds were donated to charitable purposes, it could add millions of dollars to support the vital work that nonprofit organizations do in communities across America.
- The IRA Charitable Rollover has worked very successfully over the last few years, but it would be far more effective if it were made permanent. Because donors are unable to count on the IRA Rollover being in effect every year, they rarely plan ahead to set aside funds to utilize the provision. Similarly, charities and financial planners cannot counsel donors about the IRA Rollover provision given the almost annual uncertainty surrounding it.
- We believe that the provision's impact could reach billions of dollars annually if it were made permanent.
- For these reasons, we urge [INSERT HOUSE MEMBER] to vote in favor of the bill.