Texas Border Business
WASHINGTON— Rep. Henry Cuellar (D-TX) co-sponsored Rep. Chris Smith’s (R-NJ) Charitable Giving Tax Deduction Act, H.R. 651 —which he originally introduced in the 115th Congress— that would make charitable deductions universal and above-the-line, meaning that taxpayers can deduct charitable donations from their taxes whether or not they choose to itemize.
As charitable giving is expected to decline by billions of dollars because of the new increase to the standard deduction, this bill would ensure that taxpayers who want to make tax-deductible donations to charities have the greatest flexibility possible to do so—either while itemizing their deductions, or taking the standard deduction. The
As the lead Democratic co-sponsor of the legislation, Congressman Cuellar said, “I believe that it is always important to give back to the community. This bipartisan bill not only encourages us to help our fellow neighbors, but it also makes sure that taxpayers can receive their due deduction for charitable giving if they choose not to itemize. I thank Rep. Smith for his continued efforts on this issue and am glad to support this legislation that will encourage charitable actions.”
