Philanthropy Journal-Your online source for news about nonprofits, social issues, and policy change - newsarticle: "Supporting organizations face stiff regulation
Regulatory changes to go beyond heightened enforcement, Grassley says.
10.31.2005 -
By Ret Boney
The Senate Finance Committee likely will introduce nonprofit reforms aimed at curbing abuses among certain kinds of tax-exempt groups, the committee's chair said.
'In general the reforms will focus on better transparency and improving board governance, particularly on self-dealing and high salaries,' Sen. Charles Grassley chair of the committee, told a group of nonprofit CEOs at a recent conference."
Monday, October 31, 2005
Charity Village�NewsWeek: Cover Story-Capital Gains Tax: The Continuing Fight
Charity Village�NewsWeek: Cover Story: "Capital Gains Tax: The Continuing Fight
Andy Levy-AjzenkopfOctober 31, 2005
By Andy Levy-Ajzenkopf
Thirty-four years ago a government worried about recessions and revenue streams saddled the Canadian public with a new tax. Charities, community organizations, and individuals have been paying ever since.
The Canadian Capital Gains Tax came into existence in 1971 with the passage of Bill C-259. Based on the slogan 'a buck is a buck', the new tax law removed the distinction between personal income and capital gains from other assets. It was enacted to help finance the growing costs of the social welfare system and government expenditures."
Andy Levy-AjzenkopfOctober 31, 2005
By Andy Levy-Ajzenkopf
Thirty-four years ago a government worried about recessions and revenue streams saddled the Canadian public with a new tax. Charities, community organizations, and individuals have been paying ever since.
The Canadian Capital Gains Tax came into existence in 1971 with the passage of Bill C-259. Based on the slogan 'a buck is a buck', the new tax law removed the distinction between personal income and capital gains from other assets. It was enacted to help finance the growing costs of the social welfare system and government expenditures."
Friday, October 28, 2005
Santorum eyes GOP anti-poverty effort - Nation/Politics - The Washington Times, America's Newspaper
Santorum eyes GOP anti-poverty effort - Nation/Politics - The Washington Times, America's Newspaper: "
snip snip>>
Mr. Santorum also will try to attach a $7 billion charitable-giving proposal to a separate piece of legislation next week. The long-stalled charity bill would create a series of tax incentives to encourage individuals and companies to give to faith-based and secular social service charities.
'This is an opportunity for us to ... put forth some ideas,' he said. "
snip snip>>
Mr. Santorum also will try to attach a $7 billion charitable-giving proposal to a separate piece of legislation next week. The long-stalled charity bill would create a series of tax incentives to encourage individuals and companies to give to faith-based and secular social service charities.
'This is an opportunity for us to ... put forth some ideas,' he said. "
House vote reins in Freddie, Fannie - Business - The Washington Times, America's Newspaper
House vote reins in Freddie, Fannie - Business - The Washington Times, America's Newspaper: "House vote reins in Freddie, Fannie
October 27, 2005
ASSOCIATED PRESS
The House yesterday approved tighter oversight of the two largest buyers of home mortgages as majority Republicans also barred groups that run voter registration drives from getting money from a housing fund the companies would create.
The legislation, passed by a 331-90 vote despite White House opposition, would rein in Fannie Mae and Freddie Mac, the government-sponsored companies that combine to finance or guarantee more than three-quarters of U.S. home mortgages. "
October 27, 2005
ASSOCIATED PRESS
The House yesterday approved tighter oversight of the two largest buyers of home mortgages as majority Republicans also barred groups that run voter registration drives from getting money from a housing fund the companies would create.
The legislation, passed by a 331-90 vote despite White House opposition, would rein in Fannie Mae and Freddie Mac, the government-sponsored companies that combine to finance or guarantee more than three-quarters of U.S. home mortgages. "
Monday, October 24, 2005
p2pnet.net - Unwanted telemarketing calls(CANADA)
p2pnet.net - the original daily p2p and digital media news site: "Unwanted telemarketing calls
p2p news view / p2pnet: Sometime this week - possibly as soon as later today - the House of Commons will proceed to pass do-not-call legislation by giving Bill C-37 its third and final reading. While officials from all parties will likely point proudly to the new law as evidence that government can respond to the concerns of Canadians, the reality is that the bill has devolved into an embarrassing shell of its original self, rendered practically useless under the onslaught of lobby groups determined to thwart any attempt to limit their ability to call consumers at all hours of the day."
p2p news view / p2pnet: Sometime this week - possibly as soon as later today - the House of Commons will proceed to pass do-not-call legislation by giving Bill C-37 its third and final reading. While officials from all parties will likely point proudly to the new law as evidence that government can respond to the concerns of Canadians, the reality is that the bill has devolved into an embarrassing shell of its original self, rendered practically useless under the onslaught of lobby groups determined to thwart any attempt to limit their ability to call consumers at all hours of the day."
The News-Gazette Online-"Bill to restrict naming rights to be considered
The News-Gazette Online: "Bill to restrict naming rights to be considered
By JODI HECKEL
� 2005 THE NEWS-GAZETTE
Published Online October 22, 2005
SPRINGFIELD – The General Assembly will consider legislation that would restrict naming rights for state- and university-owned property during its veto session.
Such legislation would hurt the University of Illinois' ability to raise money through private donations, said a representative of the UI Foundation.
The bill calls for the state's executive ethics commission to give prior approval to all corporate sponsorship and naming-rights deals. It would also require that the deals be competitively bid and that they expire after 10 years.
'I've been at the Foundation for over 25 years and I've been involved in a huge number of major gift scenarios for the University of Illinois,' said Bill Sturtevant, vice president for principal gifts for the Foundation, who was at a committee hearing Friday morning when a draft of the bill was discussed."
By JODI HECKEL
� 2005 THE NEWS-GAZETTE
Published Online October 22, 2005
SPRINGFIELD – The General Assembly will consider legislation that would restrict naming rights for state- and university-owned property during its veto session.
Such legislation would hurt the University of Illinois' ability to raise money through private donations, said a representative of the UI Foundation.
The bill calls for the state's executive ethics commission to give prior approval to all corporate sponsorship and naming-rights deals. It would also require that the deals be competitively bid and that they expire after 10 years.
'I've been at the Foundation for over 25 years and I've been involved in a huge number of major gift scenarios for the University of Illinois,' said Bill Sturtevant, vice president for principal gifts for the Foundation, who was at a committee hearing Friday morning when a draft of the bill was discussed."
Thursday, October 20, 2005
Here's a chance to boost both giving and tax benefits
Here's a chance to boost both giving and tax benefits: "Here's a chance to boost both giving and tax benefits
Events in 2005 have called for an unprecedented outpouring of generosity from individuals, nonprofit organizations and government to aid victims of natural disasters. Americans have responded with record levels of charitable giving to assist those in need, raising more than $1 billion.
It's heartening to know that something good has come out of the sadness and dislocation of Hurricane Katrina. That bit of brightness is the Katrina Emergency Tax Relief Act, known as KETRA, which Congress unanimously passed on Sept. 21 and President Bush signed into law on Sept. 23.
"
Events in 2005 have called for an unprecedented outpouring of generosity from individuals, nonprofit organizations and government to aid victims of natural disasters. Americans have responded with record levels of charitable giving to assist those in need, raising more than $1 billion.
It's heartening to know that something good has come out of the sadness and dislocation of Hurricane Katrina. That bit of brightness is the Katrina Emergency Tax Relief Act, known as KETRA, which Congress unanimously passed on Sept. 21 and President Bush signed into law on Sept. 23.
"
Wednesday, October 19, 2005
Tax reform panel would end most deductions | TheNewsTribune.com | Tacoma, WA
Tax reform panel would end most deductions | TheNewsTribune.com | Tacoma, WA: "Tax reform panel would end most deductions
MARY DALRYMPLE; The Associated Press
Published: October 19th, 2005 12:01 AM
WASHINGTON – Most deductions, credits and other tax breaks would be eliminated along with much of the paperwork and equations that baffle taxpayers under a drastically simplified income tax proposed by a presidential commission Tuesday.
The President’s Advisory Panel for Federal Tax Reform, charged with developing ideas to make taxes fairer, simpler and more economically productive, endorsed two alternatives for inclusion in a report due Nov. 1."
MARY DALRYMPLE; The Associated Press
Published: October 19th, 2005 12:01 AM
WASHINGTON – Most deductions, credits and other tax breaks would be eliminated along with much of the paperwork and equations that baffle taxpayers under a drastically simplified income tax proposed by a presidential commission Tuesday.
The President’s Advisory Panel for Federal Tax Reform, charged with developing ideas to make taxes fairer, simpler and more economically productive, endorsed two alternatives for inclusion in a report due Nov. 1."
Tuesday, October 18, 2005
newsobserver.com | Editorials-A mighty fall
newsobserver.com | Editorials: "A mighty fall
It's universally difficult to watch a public person brought down, but former U.S. Rep. Frank Ballance of Warrenton received an appropriate sentence for misusing state money. The crime was worse because Ballance committed it while he was a respected, powerful state senator, and the money was destined for the John A. Hyman Memorial Youth Foundation, a nonprofit substance abuse agency founded by Ballance. The former 1st District congressman received a 4-year sentence from U.S. District Court Judge Terrence Boyle."
It's universally difficult to watch a public person brought down, but former U.S. Rep. Frank Ballance of Warrenton received an appropriate sentence for misusing state money. The crime was worse because Ballance committed it while he was a respected, powerful state senator, and the money was destined for the John A. Hyman Memorial Youth Foundation, a nonprofit substance abuse agency founded by Ballance. The former 1st District congressman received a 4-year sentence from U.S. District Court Judge Terrence Boyle."
Oregon Daily Emerald - University of Oregon news and sports - Estate tax is necessary; it should not be repealed
Oregon Daily Emerald - University of Oregon news and sports - Estate tax is necessary; it should not be repealed: "Estate tax is necessary; it should not be repealed
Editorial
By Emerald editorial board
October 18, 2005
As national debate continues over the repeal of the federal estate tax, it is upsetting to observe how such a government decision could affect Oregon citizens and University students.
The estate tax — spun by the current administration as a “death tax” — allows the government to tax a person’s property, cash and other assets after they die at rates up to 47 percent, but only if those assets total more than $1.5 million."
Editorial
By Emerald editorial board
October 18, 2005
As national debate continues over the repeal of the federal estate tax, it is upsetting to observe how such a government decision could affect Oregon citizens and University students.
The estate tax — spun by the current administration as a “death tax” — allows the government to tax a person’s property, cash and other assets after they die at rates up to 47 percent, but only if those assets total more than $1.5 million."
Monday, October 17, 2005
Student proposes tax plan - The Observer - News
Student proposes tax plan - The Observer - News: "Student proposes tax plan
Mendoza innovator aims for Katrina aid
By Kate Antonacci
Published: Friday, October 14, 2005
Article Tools:Email This ArticlePrint This Article Page 1 of 3Next Page
Like many Americans affected by the traumatic hurricanes that devastated the south in August and September, graduate student Dan Kelly wanted to help.
His solution, however, was not to donate large sums of money or collect food and clothing, but to create a new tax plan.
'This idea could potentially become a tax law for the years 2005 and 2006. It still has a long way to go but it is generating speed and encouragement,' Kelly said.
Kelly, who is enrolled in a Tax Research graduate course offered in the M.S. in Accountancy program, has created a proposal that would give everyone who donates money to hurricane victims a deduction."
Mendoza innovator aims for Katrina aid
By Kate Antonacci
Published: Friday, October 14, 2005
Article Tools:Email This ArticlePrint This Article Page 1 of 3Next Page
Like many Americans affected by the traumatic hurricanes that devastated the south in August and September, graduate student Dan Kelly wanted to help.
His solution, however, was not to donate large sums of money or collect food and clothing, but to create a new tax plan.
'This idea could potentially become a tax law for the years 2005 and 2006. It still has a long way to go but it is generating speed and encouragement,' Kelly said.
Kelly, who is enrolled in a Tax Research graduate course offered in the M.S. in Accountancy program, has created a proposal that would give everyone who donates money to hurricane victims a deduction."
OMB Watch - Resource Center: New Nonprofit Gag Provision in House GSE Bill
OMB Watch - Resource Center: New Nonprofit Gag Provision in House GSE Bill: "Resource Center: New Nonprofit Gag Provision in House GSE Bill
RESTRICTIONS ON AFFILIATIONS, ADVOCACY, AND NONPARTISAN VOTER PARTICIPATION FOR GRANTEES MUST BE REMOVED
SIMILAR TO THE 1995 ISTOOK ANTI-ADVOCACY AMENDMENT
A bill that will likely reach the House floor by Oct. 28 has a provision that would disqualify nonprofits from receiving money from a new affordable housing fund if they have engaged in voter registration and other nonpartisan voter participation activities or lobbying for certain groups within 12 months of applying for the money. They would also be barred from these activities during the grant period, even if non-federal funds were used to pay for it. More specifically, the bill would sweepingly restrict any group that affiliates with an organization that engages in such activities from applying for funds under the affordable housing fund."
RESTRICTIONS ON AFFILIATIONS, ADVOCACY, AND NONPARTISAN VOTER PARTICIPATION FOR GRANTEES MUST BE REMOVED
SIMILAR TO THE 1995 ISTOOK ANTI-ADVOCACY AMENDMENT
A bill that will likely reach the House floor by Oct. 28 has a provision that would disqualify nonprofits from receiving money from a new affordable housing fund if they have engaged in voter registration and other nonpartisan voter participation activities or lobbying for certain groups within 12 months of applying for the money. They would also be barred from these activities during the grant period, even if non-federal funds were used to pay for it. More specifically, the bill would sweepingly restrict any group that affiliates with an organization that engages in such activities from applying for funds under the affordable housing fund."
Friday, October 14, 2005
Independent Sector | Public Policy -- Accountability and Oversight
Independent Sector | Public Policy -- Accountability and Oversight: "
* IRS Releases Draft Form 990
The IRS has posted a revised Form 990 on its website for comment. Under Part III, the draft form now asks organizations to check a box if any foreign grants were made. Similarly, under Part VI, the form now has additional questions about whether the organization maintains an office or has a financial account in a foreign country."
* IRS Releases Draft Form 990
The IRS has posted a revised Form 990 on its website for comment. Under Part III, the draft form now asks organizations to check a box if any foreign grants were made. Similarly, under Part VI, the form now has additional questions about whether the organization maintains an office or has a financial account in a foreign country."
Modbee.com | The Modesto Bee-"Game's up, says state DOJ to charities' casino nights
Modbee.com | The Modesto Bee: "Game's up, says state DOJ to charities' casino nights
By ROGER W. HOSKINS
BEE STAFF WRITER
Last Updated: October 14, 2005, 04:17:50 AM PDT
Local charities were scrambling this week after the state Department of Justice announced a crackdown on gaming events sponsored by nonprofit agencies.
One such event is the Cattle Baron's Ball, which last year brought in $150,000 for the local American Cancer Society.
Cheryl Brunk, community services director for the Stanislaus and Tuolumne counties unit of the society, said the ball accounts for about one-eighth of the group's fund-raising.
'We do utilize the whole concept of funny money,' she said. 'It's not like you're having any kind of a financial exchange.'"
By ROGER W. HOSKINS
BEE STAFF WRITER
Last Updated: October 14, 2005, 04:17:50 AM PDT
Local charities were scrambling this week after the state Department of Justice announced a crackdown on gaming events sponsored by nonprofit agencies.
One such event is the Cattle Baron's Ball, which last year brought in $150,000 for the local American Cancer Society.
Cheryl Brunk, community services director for the Stanislaus and Tuolumne counties unit of the society, said the ball accounts for about one-eighth of the group's fund-raising.
'We do utilize the whole concept of funny money,' she said. 'It's not like you're having any kind of a financial exchange.'"
The Council on Foundations - Charitable Reform Resource Center News
The Council on Foundations - Charitable Reform Resource Center News
Drafting Oversight in Charitable Giving Act Affects Private Foundation Excise Tax
A drafting oversight in The Charitable Giving Act (H.R. 3908), introduced in the House by Representatives Roy Blunt (R-MO) and Harold Ford, Jr. (D-TN), affects the excise tax on net investment income paid by private foundations.
Drafting Oversight in Charitable Giving Act Affects Private Foundation Excise Tax
A drafting oversight in The Charitable Giving Act (H.R. 3908), introduced in the House by Representatives Roy Blunt (R-MO) and Harold Ford, Jr. (D-TN), affects the excise tax on net investment income paid by private foundations.
Currently, private foundations are subject to a 2 percent tax on their net investment income. However, the tax is reduced to 1 percent in any year in which the foundation’s percentage of distributions for charitable purposes exceeds the average percentage of its distributions over the five preceding taxable years. The Charitable Giving Act of 2005, as introduced, includes language that effectively eliminates the current two-tier rate structure and sets the private foundation excise tax rate at 2 percent regardless of the foundation’s distribution level.
A Tax That's Not Inevitable - Forbes.com
A Tax That's Not Inevitable - Forbes.com: "A Tax That's Not Inevitable
Liz Moyer, 10.14.05, 6:00 AM ET
NEW YORK - The death tax lobby may have to compromise in its campaign to make a change in the estate tax all but inevitable. "
Liz Moyer, 10.14.05, 6:00 AM ET
NEW YORK - The death tax lobby may have to compromise in its campaign to make a change in the estate tax all but inevitable. "
Thursday, October 13, 2005
EchoPress.com-Governor creates new link for faith, community services
EchoPress.com: "Governor creates new link for faith, community services
10/12/2005
A new Council on Faith and Community Service Initiatives was created by Governor Tim Pawlenty October 7.
It is designed to develop a closer connection between the state government and faith and community organizations.
The council will be comprised of 15 members appointed by the governor. Appointees will include representatives from faith and community organizations, foundations, corporations and public entities.
The council’s mission is to increase access to existing resources, reduce barriers to the delivering of services to the needy and other populations and promote best practices among such organizations."
10/12/2005
A new Council on Faith and Community Service Initiatives was created by Governor Tim Pawlenty October 7.
It is designed to develop a closer connection between the state government and faith and community organizations.
The council will be comprised of 15 members appointed by the governor. Appointees will include representatives from faith and community organizations, foundations, corporations and public entities.
The council’s mission is to increase access to existing resources, reduce barriers to the delivering of services to the needy and other populations and promote best practices among such organizations."
Panel urges tax breaks (October 13, 2005)
Panel urges tax breaks (October 13, 2005): "Panel urges tax breaks
THE ASSOCIATED PRESS
WASHINGTON - A presidential panel says tax breaks that promote homeownership and encourage businesses to give workers health insurance should be changed to help more middle-income families.
''Clearly, under present law, the higher-income folks benefit the most from those two aspects of the tax code,'' former Sen. Connie Mack, chairman of the President's Advisory Panel on Federal Tax Reform, said Tuesday.
Decisions on specific changes to recommend could be made next week as the nine-member panel wraps up its work, Mack said."
THE ASSOCIATED PRESS
WASHINGTON - A presidential panel says tax breaks that promote homeownership and encourage businesses to give workers health insurance should be changed to help more middle-income families.
''Clearly, under present law, the higher-income folks benefit the most from those two aspects of the tax code,'' former Sen. Connie Mack, chairman of the President's Advisory Panel on Federal Tax Reform, said Tuesday.
Decisions on specific changes to recommend could be made next week as the nine-member panel wraps up its work, Mack said."
Wednesday, October 12, 2005
The Craig Daily Press: Our View: Gamble by the rules
The Craig Daily Press: Our View: Gamble by the rules: "Our View: Gamble by the rules
Wednesday, October 12, 2005
The raffle and bingo industry in Colorado topped $220 million in 2003, and it's a $160 million industry today. It's also a cash business, and with millions of dollars in cash flowing through clubs and organizations, state regulations serve as the check-and-balance system that ensures that money for nonprofits is being used in the proper fashion."
Wednesday, October 12, 2005
The raffle and bingo industry in Colorado topped $220 million in 2003, and it's a $160 million industry today. It's also a cash business, and with millions of dollars in cash flowing through clubs and organizations, state regulations serve as the check-and-balance system that ensures that money for nonprofits is being used in the proper fashion."
Friday, October 07, 2005
courant.com | Estate Taxes Irk The Rich
courant.com | Estate Taxes Irk The Rich: "Estate Taxes Irk The Rich
State May Ease Up But No Repeal Seen
October 7, 2005
By CHRISTOPHER KEATING, Capitol Bureau Chief
While death and taxes are inevitable, Connecticut's wealthiest thought they would be spared the distasteful combination of the two with the planned phase-out of Connecticut's inheritance taxes.
But a budget deal passed by legislative Democrats and signed by Republican Gov. M. Jodi Rell earlier this year imposed a new tax on estates of $2 million or more. Now, as the revenue from that tax begins to roll in, the issue is still causing a stir in the state's enclaves of wealth."
State May Ease Up But No Repeal Seen
October 7, 2005
By CHRISTOPHER KEATING, Capitol Bureau Chief
While death and taxes are inevitable, Connecticut's wealthiest thought they would be spared the distasteful combination of the two with the planned phase-out of Connecticut's inheritance taxes.
But a budget deal passed by legislative Democrats and signed by Republican Gov. M. Jodi Rell earlier this year imposed a new tax on estates of $2 million or more. Now, as the revenue from that tax begins to roll in, the issue is still causing a stir in the state's enclaves of wealth."
Thursday, October 06, 2005
deseretnews.com | 5% tax plan unveiled
deseretnews.com | 5% tax plan unveiled: "5% tax plan unveiled
Huntsman promoting a 'flatter, fairer' state levy
By Bob Bernick Jr. and Lisa Riley Roche
Deseret Morning News
Charitable gifts and having up to three dependent children would be deductible — but not mortgage interest payments — under a 5 percent 'flatter' state income tax Gov. Jon Huntsman Jr. proposed Wednesday.
Photo
Deseret Morning News graphic
Huntsman said the net effect of his tax reform proposal, which he said includes having a filing form the size of a postcard, would be a tax cut for most Utahns now paying 7 percent and a much better ranking for Utah on national tax-burden rankings."
Huntsman promoting a 'flatter, fairer' state levy
By Bob Bernick Jr. and Lisa Riley Roche
Deseret Morning News
Charitable gifts and having up to three dependent children would be deductible — but not mortgage interest payments — under a 5 percent 'flatter' state income tax Gov. Jon Huntsman Jr. proposed Wednesday.
Photo
Deseret Morning News graphic
Huntsman said the net effect of his tax reform proposal, which he said includes having a filing form the size of a postcard, would be a tax cut for most Utahns now paying 7 percent and a much better ranking for Utah on national tax-burden rankings."
Tuesday, October 04, 2005
University Business: On The Hill
University Business: On The Hill: "Tax-Exemption, Anyone?
snip snip>
While Senators and Congressmen were in their home states and districts for the August recess, ACE and the National Association of College and University Business Officers (NACUBO) urged institutions to contact lawmakers on another issue: the impact of tax-exempt reform proposals on their institutions. According to the two associations, the legislative proposals could increase costs and reduce revenue for institutions and affect their relationships with students, families, donors, and employees."
snip snip>
While Senators and Congressmen were in their home states and districts for the August recess, ACE and the National Association of College and University Business Officers (NACUBO) urged institutions to contact lawmakers on another issue: the impact of tax-exempt reform proposals on their institutions. According to the two associations, the legislative proposals could increase costs and reduce revenue for institutions and affect their relationships with students, families, donors, and employees."
Estate Tax Spin | American International Automobile Dealers |
Estate Tax Spin | American International Automobile Dealers |: "When the 2001 tax bill passed, I noted its repeal of the estate tax repeal would last 'only for one year (2010). In that same year, assets would begin to be inherited at their purchase price rather than market value (carryover basis), so heirs would inherit old capital-gains tax liabilities. ... If carryover basis were maintained after 2010 ... then heirs could end up brutally taxed on both the value of inherited assets and old gains on those assets.'
A Wall Street Journal fact-checker called, thinking I must have made a mistake. But Congress made the mistake and now has to fix it. There are not enough Senate votes for repeal, so the debate is down to choosing between a 45-55 percent tax rate with a hypothetical $10 million exemption or Republican Sen. Jon Kyl’s plan of a 15 percent tax rate with a $3.5 million exemption. "
A Wall Street Journal fact-checker called, thinking I must have made a mistake. But Congress made the mistake and now has to fix it. There are not enough Senate votes for repeal, so the debate is down to choosing between a 45-55 percent tax rate with a hypothetical $10 million exemption or Republican Sen. Jon Kyl’s plan of a 15 percent tax rate with a $3.5 million exemption. "
Monday, October 03, 2005
Association of Fundraising Professionals | U.S. public policy issues | U.S. federal issuesCARE ACT INTRODUCED IN HOUSE AND SENATE
Association of Fundraising Professionals | U.S. public policy issues | U.S. federal issues: "CARE ACT INTRODUCED IN HOUSE AND SENATE
(Oct. 3, 2005) The Charity Aid, Recovery and Empowerment (CARE) Act, S.1780, was reintroduced by Sens. Rick Santorum (R-Pa.) and Joseph Lieberman (D-Conn.) on Sept. 28, 2005.
Reps. Roy Blunt (R-Mo.) and Harold Ford (D-Tenn.) introduced companion legislation, H.R. 3908, in the House. The two bills are very similar to the CARE Act that was introduced in 2003 and include charitable giving incentives such as the IRA rollover and non-itemizer deduction."
(Oct. 3, 2005) The Charity Aid, Recovery and Empowerment (CARE) Act, S.1780, was reintroduced by Sens. Rick Santorum (R-Pa.) and Joseph Lieberman (D-Conn.) on Sept. 28, 2005.
Reps. Roy Blunt (R-Mo.) and Harold Ford (D-Tenn.) introduced companion legislation, H.R. 3908, in the House. The two bills are very similar to the CARE Act that was introduced in 2003 and include charitable giving incentives such as the IRA rollover and non-itemizer deduction."
Bloomberg.com: Bloomberg Columnists-Massive Estate Tax Cut Unseemly in Any Season: Gene Sperling
Bloomberg.com: Bloomberg Columnists: "Massive Estate Tax Cut Unseemly in Any Season: Gene Sperling
Oct. 3 (Bloomberg) -- The award for candor in the post- Hurricane Katrina era has to go to Senate Finance Chairman Chuck Grassley, who observed that ``it's a little unseemly to be talking about doing away with or enhancing the estate tax at a time when people are suffering.''
Grassley's comment was an acknowledgement that there was something troubling about giving a multibillion-dollar tax cut to the nation's richest families while hundreds of thousands of our less fortunate fellow citizens endured the pain and devastation of a terrible natural disaster."
Oct. 3 (Bloomberg) -- The award for candor in the post- Hurricane Katrina era has to go to Senate Finance Chairman Chuck Grassley, who observed that ``it's a little unseemly to be talking about doing away with or enhancing the estate tax at a time when people are suffering.''
Grassley's comment was an acknowledgement that there was something troubling about giving a multibillion-dollar tax cut to the nation's richest families while hundreds of thousands of our less fortunate fellow citizens endured the pain and devastation of a terrible natural disaster."
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