TALKING POINTS: House of Representatives This legislation would expand the IRA charitable rollover to allow contributions to donor advised funds (DAFs), others. It would also lower age. We urge you to The IRA charitable rollover was passed by Congress and signed into demonstrate your support permanent law by President Obama on December 18, 2015 as part of by the Though this for philanthropy Protecting Americans from Tax Hikes (PATH) Act. legislative victory marked a momentous occasion for philanthropy, it the IRA failed to acknowledge that community foundations make as much as two-thirds of their grants from donor advised funds (DAFs). Expansion Bill Name. DAFs are one of many philanthropic tools available for Americans to direct their philanthropic giving to support programs that build their communities, and remain involved in supporting the causes and issues they care about. Community foundations, in particular, enable people to they such tools, and employ “give where live” through experts with in-depth community knowledge to manage DAFs. Support the Private Foundation Excise Tax (H.R. 640) Simplification Act of 2015 We urge you to On February 2, 2015, Representatives Erik Paulsen (R-MN-3) and demonstrate your support Danny Davis (D-IL-7) introduced the Private Foundation Excise for philanthropy by Co-sponsored by Representatives Tax Simplification Act of 2015. Tom Reed (R-NY-23), and Ryan Costello (R-PA-6), this bill would reenergizing this bill and simplify the excise tax rate on the net investment income of co-sponsoring the Private private foundations to a flat rate of 1%. Foundation Excise Tax The current private foundation excise tax is difficult to administer. Due to its overly complicated, two-tier structure, it often creates a Simplification Act of 2015. disincentive when foundation consider increasing giving for unanticipated grants in times of need—such as natural disasters or tragedies. Support IRA In fact, current law actually can penalize foundations with higher tax Expansion Bill Name rates for increasing giving during times of extraordinary need. (Bill #) Note: private foundations may not lobby on this topic. On ______, Representatives George Holding (R-NC-13) introduced the (bill #) bill name with names as co-sponor(s).
TALKING POINTS: House of Representatives We urge you to demonstrate your support for philanthropy by the IRA Expansion Bill Name. We urge you to demonstrate your support for philanthropy by reenergizing this bill and co-sponsoring the Private Foundation Excise Tax Simplification Act of 2015. Support IRA Expansion Bill Name (Bill #) Note: private foundations may not lobby on this topic. On ______, Representatives George Holding (R-NC-13) introduced the bill name (bill #) with names as co-sponor(s). This legislation would expand the IRA charitable rollover to allow contributions to donor advised funds (DAFs), others. It would also lower age. The IRA charitable rollover was passed by Congress and signed into permanent law by President Obama on December 18, 2015 as part of the Protecting Americans from Tax Hikes (PATH) Act. Though this legislative victory marked a momentous occasion for philanthropy, it failed to acknowledge that community foundations make as much as two-thirds of their grants from donor advised funds (DAFs). DAFs are one of many philanthropic tools available for Americans to direct their philanthropic giving to support programs that build their communities, and remain involved in supporting the causes and issues they care about. Community foundations, in particular, enable people to “give where they live” through such tools, and employ experts with in-depth community knowledge to manage DAFs. Support the Private Foundation Excise Tax Simplification Act of 2015 (H.R. 640) On February 2, 2015, Representatives Erik Paulsen (R-MN-3) and Danny Davis (D-IL-7) introduced the Private Foundation Excise Tax Simplification Act of 2015. Co-sponsored by Representatives Tom Reed (R-NY-23), and Ryan Costello (R-PA-6), this bill would simplify the excise tax rate on the net investment income of private foundations to a flat rate of 1%. The current private foundation excise tax is difficult to administer. Due to its overly complicated, two-tier structure, it often creates a disincentive when foundation consider increasing giving for unanticipated grants in times of need—such as natural disasters or tragedies. In fact, current law actually can penalize foundations with higher tax rates for increasing giving during times of extraordinary need.