Political Quotes

“charitable organizations are vital to the health and well-being of American citizens. Charity benefits both the giver and the receiver in like proportions. The act of giving elevates the heart of the giver; the act of receiving elevates the condition of the recipient. Charity is a blessed act that should suffer no discouragement from something so punitive as the Tax Code. Mr. Speaker, I am very pleased that two major components of H.R. 7 are based upon legislation I have introduced for almost 20 years, the Charitable Giving Tax Relief Act and the IRA Charitable Rollover Incentive Act. The Charitable Giving Tax Relief Act allow nonitemizers to deduct 100 percent of any charitable contributions up to the amount of standard deduction. Secondly, under H.R. 7, individuals age 70\1/2\ or older will be able to contribute amounts currently held in IRA accounts directly to qualified charities without having to first recognize the income for tax purposes and then take a charitable deduction. We now have an excellent opportunity to advance sound tax policy and sound social policy by returning to our Nation's historical emphasis on private activities and personal involvement in the well-being of our communities. I congratulate all, and I urge everyone to vote for the bill.”