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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.
2/9/2022, 1:25 AM
Congressional Summary of HR 6424
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.
Read the Full Bill
Current Status of Bill HR 6424
Bill HR 6424 is currently in the status of Bill Introduced since March 31, 2020. Bill HR 6424 was introduced during Congress 116 and was introduced to the House on March 31, 2020. Bill HR 6424's most recent activity was Referred to the House Committee on Ways and Means. as of March 31, 2020
Bipartisan Support of Bill HR 6424
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 6424
Primary Policy Focus
TaxationPotential Impact Areas
- Appropriations
- Cardiovascular and respiratory health
- Charitable contributions
- Department of the Treasury
- Emergency medical services and trauma care
- Executive agency funding and structure
- Government lending and loan guarantees
- Income tax deductions
- Infectious and parasitic diseases
- Social work, volunteer service, charitable organizations
- Tax-exempt organizations
Alternate Title(s) of Bill HR 6424
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.
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.
Comments
Sponsors and Cosponsors of HR 6424
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