WASHINGTON, D.C.— The Alliance for Charitable Reform (ACR) issued the following statement upon the release of tax reform legislation authored by House Ways and Means Chairman Dave Camp (R-MI).
“Chairman Camp has taken on the difficult task of crafting comprehensive tax reform legislation and we applaud his commitment to this effort,” Sandra Swirski, executive director of ACR, said. “By preserving a charitable deduction, this bill acknowledges the importance of the deduction as it encourages individuals to give their money away for the benefit of others. Some proposed provisions do raise concern and we look forward to working with the Chairman and other members of the Committee to improve the bill.”
Camp formally unveiled his bill today at a media briefing on Capitol Hill.
“This legislation does not reflect ideas solely advanced by Democrats or ideas solely advanced by Republicans, nor is it limited to the halls of Congress. Instead, this is a comprehensive plan that reflects input and ideas championed by Congress, the Administration and, most importantly, the American people,” Camp said in a news release.
ACR also strongly supports the proposed consolidation of the private foundation excise tax to a flat one percent instead of the current two-rate structure, which has the practical effect of deterring foundations from increasing their grants during times of great need.