What to Watch in November

The House now stands in recess for all of October, as is tradition in an election year, whereas Senators will stick around DC for votes throughout the month.  After the election, attention will turn to the “lame duck” session, set to begin the week of Veteran’s Day and continue after Thanksgiving and into the first two weeks of December. During this time, a flurry of legislative activity can be expected including a possible year-end tax bill that could carry a number of relevant provisions to charitable gift planners. 

CGP is monitoring and engaged on a number of such provisions, both legislative and regulatory in nature, as we move into the final weeks of the 115th Congress, some of which are listed here. 

Take Action Today to Expand the IRA Charitable Rollover

CGP is proud to support the Legacy IRA Act (HR 1337), federal legislation that would expand the current-law IRA Rollover to allow for life-income gifts, including charitable gift annuities and charitable remainder trusts.  CGP believes this legislation will allow an entire generation of Americans with average resources to make critical gifts to charitable organizations in their communities while still receiving a modest amount of retirement income. 

To help build support for the Legacy IRA Act and encourage the House to advance this legislation during the coming months, CGP is asking all members to take action today.    

Learn How to Take Action

Letter to Secretary Mnuchin - July 13

Senators James Lankford and Chris Coons, Chair and Ranking Member of the Financial Services and General Government Subcommittee of the Senate Committee on Appropriations sent a letter to Treasury Secretary Steven Mnuchin requesting data on charitable giving for 2018. The request is based on concerns that the JCTA will result in reduced charitable contributions in 2018 and beyond. 

Access Letter

American Enterprise Institute Releases Report

The June report Charitable Giving and the Tax Cuts and Jobs Act estimates a reduction in charitable giving of 4% in 2018 and also explores two policy options that could increase charitable giving if adopted.

Access Report

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