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Charitable Act

12/15/2023, 4:06 PM

Congressional Summary of S 566

Charitable Act

This bill allows individual taxpayers who do not otherwise itemize their tax deductions a deduction in taxable years beginning in 2023 or 2024 for charitable contributions. The deduction is limited to one-third of the standard deduction allowed to such taxpayers.

Current Status of Bill S 566

Bill S 566 is currently in the status of Bill Introduced since February 28, 2023. Bill S 566 was introduced during Congress 118 and was introduced to the Senate on February 28, 2023.  Bill S 566's most recent activity was Read twice and referred to the Committee on Finance. as of February 28, 2023

Bipartisan Support of Bill S 566

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
19
Democrat Cosponsors
10
Republican Cosponsors
9
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 566

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 566

Charitable Act
Charitable Act
A bill to amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions.

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