A bipartisan group of House lawmakers is backing a bill that would provide $60 billion in assistance to charities along with a wide variety of other benefits for nonprofits.
The legislation, led by Republican Brian Fitzpatrick of Pennsylvania and Democrat Seth Moulton of Massachusetts, would also expand the “universal deduction” created in the stimulus bill cleared by Congress today, which will allow nonitemizers to deduct up to $300 in cash donations to charity for the 2020 tax year only.
The legislation announced today by Fitzpatrick and Moulton would “significantly” raise the cap, according to a news release from Fitzpatrick. The news release didn’t specify how much.
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