Everyday Philanthropist Act
Our current tax code discourages individuals at a certain income level from giving back. Congress has introduced a bill that would enable everyday, working Americans to give to the communities they care about. The Everyday Philanthropist Act (H.R. 6616) was introduced by Representative Erik Paulsen (R-MN) and is cosponsored by Representatives Ami Bera (D-CA), Cheri Bustos (D-IL), Mike Gallagher (R-WI), Mark Pocan (D-WI), Tim Walberg (R-MI), and Sean Duffy (R-WI). The legislation seeks to empower the Everyday Philanthropist to give back by implementing a Flexible Giving Account (FGA). An FGA is a pre-tax payroll deduction for employee giving that would allow:
- Millions more Americans to receive immediate tax benefits for their charitable donations.
- Employers to empower their employees to give back while lowering payroll taxes.
- Charities to increase their donations, so they can more effectively help those in need.