Senators Introduce Bipartisan Charitable Act Boosting Tax Deduction

Sen. James Lankford (R-Okla.) (L) and Sen. Chris Coons (D-Del.) (R) announced that, although often voting differently on other bills, they found common ground and proposed the bipartisan Charitable Act enhancing tax deductions on Capitol Hill in Washington on March 1, 2023. Madalina Vasiliu/The Epoch Times

WASHINGTON—Senators James Lankford (R-Okla.) and Chris Coons (D-Del.) announced on March 1 on Capitol Hill a new bipartisan charitable legislation incentivizing taxpayers to donate more by increasing tax deductions.

The bill would provide taxpayers who do not itemize their tax returns with a reduced deduction for charitable contributions on federal income taxes worth up to one-third of the standard deduction—approximately $4,500 for an individual filer and nearly $9,000 for married joint filers.