Last month, the House and Senate passed their separate versions of tax reform, and now the final bill must be negotiated in what’s called a “conference committee” made up of assigned Representatives and Senators.
The conference committee intends to finalize tax reform this week, and Habitat continues to advocate for affordable housing and charitable deduction provisions to be included in the final bill that would benefit Habitat for Humanity homeowners and those in need of adequate housing.
A central concern regarding tax reform is its impact on the value of the charitable giving deduction.
We need your help in encouraging members of Congress to support making the charitable deduction “universal,” which would make the deduction available both to donors who take the standard deduction and to those who itemize.
Both the Senate and House bills double the standard deduction, which would likely result in 6% or fewer of all taxpayers itemizing deductions in their returns and having access to the charitable giving deduction. Making the charitable deduction universal would prevent the unintended negative consequences of significantly reducing the number of itemizers and potentially increasing charitable giving by nearly $5 billion per year.
TAKE ACTION NOW!
Before the House and Senate conference committee releases its final tax reform bill, we urge you to voice your support to your members of Congress for creating a universal charitable deduction.
Thank you for supporting Habitat for Humanity’s advocacy efforts – it’s making a difference and we need you to keep it up!
Executive Director, Habitat for Humanity of Springfield, MO