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December 10, 2014

White House Opposes Bill to Lock in 3 Charity Tax Breaks

Legislation to make permanent three types of charity tax incentives that expired at the end of 2013 is likely to meet with a presidential veto if it gets through Congress, Bloomberg reports. White House spokesman Josh Earnest said the administration's view of the bill hasn't changed since July, when presidential advisers recommended a veto because the measure does not offset the tax breaks with budget savings.

Republican Rep. Dave Camp and Democratic Sen. Ron Wyden—chairs of the House and Senate tax-writing committees, respectively—expressed optimism Tuesday that both chambers would approve making permanent the deductions for donations of conservation easements, money from retirement accounts, and food inventory.

Nonprofit groups, including the Association of Art Museum Directors and the National Grocers Association, have lobbied for locking in the breaks. A separate measure that would extend them only through 2014 has cleared the House and is expected to be passed shortly by the Senate.

Read a Chronicle of Philanthropy article on the "tax extenders" legislation.