US HB6424 | 2019-2020 | 116th Congress

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on March 31 2020 - 25% progression
Action: 2020-03-31 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities. This bill allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions. The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.

Tracking Information

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Title

To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities.

Sponsors


History

DateChamberAction
2020-03-31HouseReferred to the House Committee on Ways and Means.
2020-03-31HouseIntroduced in House

Same As/Similar To

HB6408 (Same As) 2020-03-27 - Referred to the House Committee on Ways and Means.
HB1260 (Related) 2019-02-14 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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