AAP on the Hill / Issues: Tax Issues
Improved Charitable Deduction for Contributions of Book Inventories Sails through the U.S. Senate
On April 9, before adjourning for a two-week recess, the U.S. Senate passed the Charity Aid, Recovery, and Empowerment (CARE) Act by a 95-5 vote. The CARE Act (S.476) is a bipartisan, compromise version of President Bush’s Faith-based and Community Initiative. In addition to the Initiative, the legislation as passed includes a number of amendments to stimulate donations to charitable organizations that are currently struggling with a decline in contributions coupled with a growing demand for services.