Universal Charitable Giving Act of 2019

Bill: 116-hr-5293
Sponsor: full_name: Rep. Walker, Mark [R-NC-6]
Introduced: 2019-12-03
Policy area: Taxation
Subjects: Charitable contributions

Income tax deductions
Latest action: action_date: 2019-12-03
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-12-03
action_desc: Introduced in House
text: <p><b>Universal Charitable Giving Act of 2019</b></p> <p>This bill allows individual taxpayers a deduction from gross income (above-the-line deduction) for charitable contributions even if such taxpayers do not elect to itemize deductions for the taxable year. The deduction may not exceed one-third of the taxpayer's standard deduction amount.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 5293 IN THE HOUSE OF REPRESENTATIVES December 3, 2019 Mr. Walker (for himself, Ms. Norton , Mr. Posey , Mr. Tipton , Mr. Meadows , and Mr. Mooney of West Virginia ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow above-the-line deductions for charitable contributions for individuals not itemizing deductions.

1. Short title This Act may be cited as the Universal Charitable Giving Act of 2019 . 2. Allowing above-the-line deductions for charitable contributions for individuals not itemizing deductions (a) In general Section 62(a) of the Internal Revenue Code of 1986 is amended by inserting after paragraph (21) the following new paragraph: (22) Charitable contributions for individuals not itemizing deductions In the case of an individual who does not elect to itemize his deductions for the taxable year, the deduction allowed by section 170, to the extent such deduction does not exceed an amount equal to the product of 1⁄3 and the standard deduction for such individual. . (b) Effective date The amendment made by this section shall apply to taxable years beginning after the date of enactment of this Act.