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Lankford, Coons Continue to Push for Non-Itemized Charitable Deduction in Tax Agreement

WASHINGTON, DC – Senators James Lankford (R-OK) and Chris Coons (D-DE) continue to push for the extension of their highly supported non-itemized charitable tax deduction, which was previously included in the CARES Act, in the bicameral tax agreement announced earlier this week. The House Ways and Means Committee plans to markup the agreement tomorrow.

“While I was pleased, as the Senate leader for bonus depreciation, that the restoration of 100 percent expensing was included in the bicameral tax proposal, I was disappointed that the agreement failed to include the restoration and extension of the non-itemized charitable deduction that has seen broad, bipartisan support from our nonprofit community and more,” said Lankford. “I am committed to working with leadership to find a compromise that supports our nonprofits and incentivizes Americans to give. While conversations on the best ways to support businesses, working families and nonprofits through the tax code progress, I will continue to push for tax policy that encourages businesses to invest with clarity and certainty and encourages Americans to give to nonprofits.”

“I look forward to consideration of the tax package, and remain hopeful that the Charitable Act will be included in any final tax package,” said Coons. “Delawareans and Americans nationwide have always stepped up to meet the needs of our diverse communities, and the Charitable Act would expand and extend the deductions taxpayers can claim to reward those who give and encourage even more people to embrace charitable giving.”

On Giving Tuesday in November, the Charitable Act, led by Lankford and Coons and supported by 18 of their colleagues in the Senate and 28 members of the House of Representatives, received an outpouring of support from more than 1,000 nonprofit organizations from all 50 states.

In a letter to the leadership of the House Ways and Means Committee and the Senate Finance Committee with jurisdiction over tax policy, the organizations ask that the Committees pass Lankford’s Charitable Act, which would expand and extend the expired non-itemized deduction for charitable giving to ensure Americans who donate to charities, houses of worship, religious organizations, and other nonprofits of their choice are able to deduct that donation from their federal taxes at a higher level than the previous $300 deduction, which was originally included in the CARES Act.

In addition to the Charitable Giving Coalition, which consists of thousands of nonprofits from around the nation, Lankford’s bill is supported by numerous Oklahoma-based nonprofits including: Camp Fire Green Country, Inc., Communities Foundation of Oklahoma, First Americans Museum, Oklahoma Alliance of YMCAs, Oklahoma Center for Nonprofits, Oklahoma Museums Association, and the Survivor Resource Network. Nationally, the bill is supported by the YMCA, United Way, Goodwill Industries, and the American Heart Association, the National Council of Nonprofits (25,000 member organizations), Leadership18, the Nonprofit Alliance, United Philanthropy Forum, the National Philanthropic Trust, Jewish Federations of North America, Independent Sector, Philanthropy Southwest, the Association of Fundraising Professionals, Council for Advancement and Support of Education, and the Faith & Giving Coalition.

In September, Lankford also published an op-ed in Oklahoma’s Journal Record highlighting his push for tax policies that help Oklahoma businesses and enable them to make smart investments in research and development and inventory.