This week the Senate will consider major tax reform legislation which will dramatically alter tax incentives for charitable giving. CGP is asking all members to contact their two United State Senators to advocate for a universal charitable deduction. Given all that is at stake, the time to act is now. Background information, a call to action, and suggested talking points are below. Please reach out to CGP with any questions as this process continues to unfold.
We feel it is vital to keep you informed about the current tax reform, active in in both the House and Senate. CGP appreciates the work you have done to help minimize the potential impact to charitable giving, and there is still more work to do.
Fast-Moving Tax Reform Legislation to Clear Key House Committee Today While Senate Leaders Plan to Unveil Their Reform Bill
(11-9-2017) Both the House and Senate are actively considering major tax reform legislation this week and next, which will dramatically alter tax incentives for charitable giving. As a result of this fast-moving legislation, CGP is asking all members to contact their Members of Congress today and tomorrow to advocate for a universal charitable deduction. Given all that’s at stake, the time to act is now.
WASHINGTON, DC – Earlier today Republican leaders in the House introduced the Tax Cuts and Jobs Act (HR 1), a 429-page mark of sweeping tax reform legislation that has taken key lawmakers months to draft. Text of the legislation can be found here. A section-by-section analysis can be found here.
Over the course of the next several weeks, CGP expects significant action on federal tax reform legislation. Here is how you can stay up-to-date with the latest news and analysis as well as opportunities for you to help CGP with our lobbying efforts on Capitol Hill.
On Thursday, October 12 more than 50 nonprofit leaders who specialize in charitable gift planning convened on Capitol Hill urging Members of Congress and senior Congressional staff to protect the full value of the charitable deduction. Lawmakers are presently drafting the largest rewrite of the federal tax code in 30 years, and legislation is expected to move through Congress in November.