H.R.6408 - To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities.116th Congress (2019-2020) |
|Sponsor:||Rep. Moulton, Seth [D-MA-6] (Introduced 03/27/2020)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 03/27/2020 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.6408 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (03/27/2020)
This bill allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions.
The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.