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Supporting Charitable Institutions Act of 2020
2/9/2022, 1:25 AM
Congressional Summary of S 3525
Supporting Charitable Institutions Act of 2020
This bill allow a new tax credit for charitable contributions made in cash during 2020 to a charitable organization for relief efforts connected to COVID-19 (i.e., the coronavirus disease 2019). The credit is limited to 24% of contributions not exceeding $4,000 for an individual taxpayer, $6,000 for a head of household, and $8,000 for a married couple filing a joint return.
Read the Full Bill
Current Status of Bill S 3525
Bill S 3525 is currently in the status of Bill Introduced since March 18, 2020. Bill S 3525 was introduced during Congress 116 and was introduced to the Senate on March 18, 2020. Bill S 3525's most recent activity was Read twice and referred to the Committee on Finance. as of March 18, 2020
Bipartisan Support of Bill S 3525
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3525
Primary Policy Focus
TaxationPotential Impact Areas
- Cardiovascular and respiratory health
- Charitable contributions
- Emergency medical services and trauma care
- Income tax credits
- Income tax deductions
- Infectious and parasitic diseases
Alternate Title(s) of Bill S 3525
Supporting Charitable Institutions Act of 2020
Supporting Charitable Institutions Act of 2020
A bill to allow a tax credit for certain coronavirus-related charitable contributions for taxable year 2020.
Comments
Sponsors and Cosponsors of S 3525
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