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.
Lawmakers have, by and large, abandoned a hot and humid Washington, DC for their annual summer recess after roughly seven months of work that failed to produce a single major piece of legislation for President Trump to sign into law. By almost any objective measure, the President and Republican-controlled Congress have been stuck in a tailspin of unproductivity and have not come close to meeting the expectations many had after the November elections handed control of the White House and both Congressional chambers to one party. To make matters worse, when Congress reconvenes shortly after Labor Day, Republican leaders are bracing for a potential firestorm over the debt ceiling and government funding, two issues that must be addressed quickly in order to avoid a government default or shutdown.