Charitable Act

Hozzl · 2023-12-15T16:06:12Z

Explore the details of Senate Bill 566 Charitable Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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.

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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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 566

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 566

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.