With under one month to go before a historic midterm election, Democrats could take control of the House in 2019 and may even stand an outside chance of gaining power in the Senate. But, as Republicans in Congress prepare for this potential “blue wave” on November 6th, they have pressed ahead in September on a vast array of matters, making some significant progress on a number of issues following their annual summer break.
In the work I do for the Christian Church Foundation, our message is rooted in the Good Book (Bible) of how we as Christians are called to give of our time, talent and treasure (or wealth, wisdom, and work) to build the kingdom of God on earth. The Old Testament speaks of giving our “first fruits”—or 10 percent of the harvest—to the church for its work. We are then implored to give an “offering” to support the widows and orphans, the aliens and the poor.
In the New Testament the scriptures call for us to give out of our abundance, and in response to the measure we have been blessed. The topics of giving and sharing are noted in the Bible more times than the topics of love and faith! And two-thirds of Jesus’ parables addressed how we care for others by sharing of our resources.
Starting tomorrow the House and Senate are expected to give final approval to major tax reform legislation, known as the Tax Cuts and Jobs Act (HR 1), before sending it to President Trump who has indicated he will promptly sign the measure into law. As discussed on our December 14 update, HR 1 is the most significant re-write of the United States Tax Code in three decades and, despite a historic lobbying effort by the nonprofit community, the legislation will significantly impair tax incentives for charitable giving and make a number of other changes that will greatly affect the tax-exempt sector.
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.