A press release from Congressman Randy Hultgren:
Hultgren Supports Passage of Bill to Expand Giving to Illinois Food Banks, Charities
Washington, DC – U.S. Representative Randy Hultgren (IL-14) today supported passage of H.R. 644, the Fighting Hunger Incentive Act, a bill which expands and make permanent key tax incentives that encourage charitable giving to organizations serving their communities.
“Our country’s strength is in the people and organizations that serve their communities directly, and I’ve seen this first-hand throughout the 14th District. Neighbors serve neighbors, many times through local non-profit organizations,” said Rep. Hultgren.
“Organizations like the Northern Illinois Food Bank, Between Friends Food Pantry, Hesed House and Kendall County Food Pantry, among many others, rely on private donations to provide food and necessities to the needy among us.
“Making these tax provisions permanent encourages steady contributions to these important organizations, ensuring they can focus their attention on doing what they do best.”
- an extension and expansion of charitable deduction for contributions of food inventory by businesses (H.R. 644).
- certain tax-free distributions from Individual Retirement Accounts (IRAs) for charitable purposes (H.R. 637).
- deductions for contributions of conservation easements (H.R. 641).
- a flat one-percent excise tax on investment income of private foundations (H.R. 640).