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Everyday Philanthropist Act
12/30/2022, 1:47 PM
Summary of Bill HR 4585
Bill 117 HR 4585, also known as the Everyday Philanthropist Act, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to encourage and incentivize everyday Americans to engage in philanthropic activities and charitable giving.
The key provisions of the bill include the establishment of a tax credit for individuals who make charitable donations. This tax credit would provide a financial incentive for people to donate to charitable organizations and causes. Additionally, the bill aims to simplify the process of claiming this tax credit, making it easier for individuals to take advantage of the incentive.
Furthermore, the Everyday Philanthropist Act seeks to raise awareness about the importance of philanthropy and charitable giving in society. The bill includes provisions for educational campaigns and outreach programs to inform the public about the benefits of giving back to their communities. Overall, the Everyday Philanthropist Act is designed to promote a culture of giving and generosity among Americans. By providing tax incentives and raising awareness about the importance of philanthropy, this bill aims to increase charitable donations and support for nonprofit organizations across the country.
The key provisions of the bill include the establishment of a tax credit for individuals who make charitable donations. This tax credit would provide a financial incentive for people to donate to charitable organizations and causes. Additionally, the bill aims to simplify the process of claiming this tax credit, making it easier for individuals to take advantage of the incentive.
Furthermore, the Everyday Philanthropist Act seeks to raise awareness about the importance of philanthropy and charitable giving in society. The bill includes provisions for educational campaigns and outreach programs to inform the public about the benefits of giving back to their communities. Overall, the Everyday Philanthropist Act is designed to promote a culture of giving and generosity among Americans. By providing tax incentives and raising awareness about the importance of philanthropy, this bill aims to increase charitable donations and support for nonprofit organizations across the country.
Congressional Summary of HR 4585
Everyday Philanthropist Act
This bill allows employers to offer certain employees a tax-advantaged flexible giving account as a fringe benefit. Flexible giving accounts allow employees to set aside up to $2,700 of their annual pretax earnings to make tax-deductible charitable contributions without having to itemize tax deductions.
Read the Full Bill
Current Status of Bill HR 4585
Bill HR 4585 is currently in the status of Bill Introduced since July 20, 2021. Bill HR 4585 was introduced during Congress 117 and was introduced to the House on July 20, 2021. Bill HR 4585's most recent activity was Referred to the House Committee on Ways and Means. as of July 20, 2021
Bipartisan Support of Bill HR 4585
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
24Democrat Cosponsors
10Republican Cosponsors
14Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4585
Primary Policy Focus
TaxationPotential Impact Areas
- Charitable contributions
- Employee benefits and pensions
- Income tax deductions
- Income tax exclusion
Alternate Title(s) of Bill HR 4585
Everyday Philanthropist Act
To amend the Internal Revenue Code of 1986 to provide for flexible giving accounts, and for other purposes.
Everyday Philanthropist Act
Comments
Sponsors and Cosponsors of HR 4585
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