Since 2006 the IRA Charitable Rollover has allowed generous, older Americans to donate millions of dollars from their Individual Retirement Accounts directly to America’s charities – and the populations they serve – during a time when traditional charitable contributions were on the decline or remained flat. The IRA Rollover has generated an enormous amount of new charitable giving to thousands of nonprofits that work every day to enrich lives and strengthen communities across the country. Given the great success of the IRA Rollover, and the extent to which the charitable sector and donors alike have come to rely on this critical giving incentive, PPP was proud to lead the fight in Congress to make the IRA Rollover a permanent part of the tax code at the end of 2015. And with this permanent, albeit limited, IRA Rollover firmly in place now is the time to push for an expanded provision.Accordingly, PPP is proud to support the Legacy IRA Act (HR 5171), new federal legislation that would significantly expand the current-law IRA Rollover to allow for life-income gifts, including charitable gift annuities and charitable remainder trusts. PPP believes this legislation will allow an entire generation of Americans with average resources to make critical gifts to charitable organizations in their communities while still receiving a modest amount of retirement income.
To help build support for the Legacy IRA Act and encourage Congress to move on this legislation before the end of the year, PPP is asking all members to join together over the coming weeks, scheduled to correspond with the Congressional summer recess (mid-July through Labor Day), and reach out to their United States Representatives and ask them to join HR 5171 as cosponsors. Summer recess is a period when Representatives are back in their home districts and set aside time to meet with community leaders on issues presently before Congress, so please take action today by clicking on the link below and following the steps.