What is the Everyday Philanthropist Act?
The Everyday Philanthropist Act seeks to empower everyday, working Americans by implementing a Flexible Giving Account (FGA). An FGA is a pre-tax payroll deduction for employee giving. Employees would set up an FGA through their employer, deposit a portion of their paycheck in the account to be donated to the charity of their choice, and immediately lower their taxable income.
How Will it Impact Me?
Since the Tax Cuts and Jobs Act was signed into law, tax experts are anticipating a reduction in charitable giving by $16-$24 billion per year because an estimated 27 million more U.S. taxpayers will benefit from taking the standard deduction. An FGA would allow those who take the standard deduction, and don’t usually see tax benefits for their charitable donations, to finally do so. We’re estimating that this will increase the national giving rate from 2% to 3%.
What Can I Do to Help?
- Add your name to our list of supporters [SIGN ON]
- Send a letter to your members of Congress to let them know you support the Everyday Philanthropist Act. [SUPPORT]
- 'Like Us' and post your support on The Greater Give Facebook page.
- Tweet your support with #EverydayPhilanthropist!