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Legislative Update

Proposed Law Would Allow Charitable Deduction Without Itemizing

A bill has been introduced in Congress that would allow taxpayers to use the charitable deduction whether or not they itemize on their taxes. The bipartisan bill has been referred to the House Ways and Means Committee.

The bill, H.R. 5771, was introduced in May by lead sponsor Christopher Smith, a Republican from New Jersey. It would make all charitable deductions “above the line,” meaning they apply whether or not a taxpayer itemizes. The bill does not have any cap on the amount of the charitable deduction.

“Americans have been generous patrons of charitable causes, and we want to ensure that everyone has the support they need to continue their generosity to charitable and philanthropic causes,” Smith said in announcing the bill.

You can track the status of the legislation here.