HOME > NEWSROOM > ARTICLES > Charitable Deduction Highlighted as Senators Engage Treasury Secretary

Charitable Deduction Highlighted as Senators Engage Treasury Secretary

A hearing this week on the President’s proposed FY2015 Budget featuring U.S. Treasury Secretary Jack Lew turned to the importance of incentivizing charitable giving through the federal tax code. A champion of the charitable deduction, U.S. Senator John Thune (R-SD), questioned Secretary Lew about why the Administration continues to include in its budget the idea of limiting the value of that deduction for high income donors. Specifically, the White House would cap the value of itemized deductions at the 28 percent tax rate, which would result in those donors in the 33, 35, and 39.6 percent income tax brackets being taxed more on the money they give away to charitable causes. Secretary Lew affirmed the importance of charitable giving, but did not think this alteration would hurt giving. Senator Thune countered that while people will likely still give to important causes, they may not be able to give as much.

NRB has expressed a view similar to Senator Thune: “The charitable deduction is a century-old proven success. Diminishing its value would essentially commandeer voluntary donation money away from important ministries and into federal coffers, ultimately to the detriment of the communities those ministries serve.”

Notably, Senator Thune and Senate Finance Committee Chairman Ron Wyden (D-OR) have rallied nearly a third of U.S. Senators to publicly affirm their strong support for the charitable tax deduction.

• Watch the brief exchange between Senator Thune and Secretary Lew here.
• Find the full video and written testimony from this hearing here.

By Aaron Mercer, Vice President of Government Relations

Published: March 7, 2014

Latest News

NRBMLC Files Comments to DOJ on ASCAP and BMI Consent Decrees

The NRB Music License Committee (NRBMLC) filed comments with the U.S. Department of Justice last week in response to its plans to review the “consent decrees” that govern how the American Society of Composers, Authors and Publishers (ASCAP) and Broadcast Music, Inc. (BMI) license songs for public performance in the United States.

National Radio Day: A Look Back at the Early Days of Christian Broadcasting

When radio emerged as a public medium in the early 1920s, preachers were fascinated but cautious.

Christian Advocacy Group Protests Offensive Cartoon Network Program

The Christian Film & Television Commission® (CFTVC), an advocacy group promoting quality Christian entertainment, is organizing a protest against Black Jesus, the Cartoon Network’s new controversial program.

CBN’s Superbook Partners with Newton Media

Newton Media has been selected to partner with CBN’s Superbook to brand market their award-winning animated Bible series and build their continuity program via DRTV, barter syndication, and digital platforms.

4 FEBC Volunteers Martyred in Ukraine

Four young FEBC volunteers who were recently captured by pro-Russian separatists in Eastern Ukraine were brutally beaten to death simply for being Christians, according to a report from the organization last week.

Answers in Genesis: Ark Encounter Will Not Be Built with State Funds

Answers in Genesis, the apologetics ministry of Ken Ham, is working to make it clear that the full-scale Noah’s Ark that it plans to build in Williamstown, KY, will not be constructed with state funds.

Galcom International to Celebrate 25 Years of Dynamic Outreach

While attending a Christian conference in 1988, Harold Kent, a businessman in Tampa, FL, heard that the major international radio ministries (TWR, HCJB, FEBC, ELWA, etc.) were cooperating in order to cover the world with short-wave radio in 140 languages.

Five Q Celebrates 10th Anniversary

Five Q, a full-service web development and interactive marketing agency that serves ministries and non-profits, marked its 10-year anniversary on Sunday.

Save the Date: Defending Truth Apologetics Conference on November 1 in Nashville

This November, the NRB Network and TodaysChristianMusic.com will present the 2nd Annual “Defending Truth in a Culture of Deception” Apologetics Conference in Nashville, TN.

Theme Picked for 23rd Annual Faith and Family Friendly Awards Gala

“Faith & Values Are for Reel” has been announced as the theme for next year’s 23rd Annual Faith & Values Awards Gala and Report to the Entertainment Industry.

More News