The Washington Times opinion section recently published a piece from DonorsTrust Program & Events Manager and Novus Society Director Lydia Pitea arguing that lawmakers should extend and enhance the $300 charitable tax deduction. That deduction was part of the CARES Act in 2020 and then extended to 2021. She also makes the case for expanding the rule to allow for contributions into charitable investment accounts like those we help service here at DonorsTrust.
Better incentivizing charitable giving, Lydia says, would not only bolster important causes; it would also help to socially rehabilitate Americans isolated and lonely as a result of the pandemic and other societal breakdowns that were at play even before the pandemic started nearly two years ago.
As Lydia explains in the op-ed:
“Making the $300 charitable tax deduction permanent and enhancing it would have a two-fold effect: It would put Americans in charge of rebuilding their pandemic-battered communities by funding worthy charities in a more efficient, intentional way, all while fostering connection.
Increasingly, Americans’ budgets aren’t stretching as far, as inflation outpaces wage growth, as gas has doubled in price over the last year and as the cost of groceries like bacon and sugar is up more than 25%. Charity naturally takes a back seat when Americans can’t afford the basics.
But it doesn’t have to be that way. Americans need to reconnect with their communities — whether that means more involvement in a place of worship or within other nonprofit social and community-service organizations.”
Everyone should have a say in the philanthropic direction of our country. Giving low- and middle-class Americans another reason to give to their favorite nonprofits would help solve the many crises facing our country and encourage people to get more involved in their community.
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