Everyday Philanthropist Act
Our current tax code discourages individuals at a certain income level from giving back. Congress has introduced a bill that would enable everyday, working Americans to give to the communities they care about. The Everyday Philanthropist Act (H.R. 4002) was introduced by U.S. Representatives Vern Buchanan (R-FL) and Tom Suozzi (D-NY).The legislation seeks to empower the Everyday Philanthropist® to give back by implementing a Flexible Giving Account (FGA). An FGA is a pre-tax payroll deduction for employee giving that would allow:
- Millions of Americans to receive immediate tax benefits for their charitable donations.
- Employers to empower their employees to give back while lowering payroll taxes.
- Charities to increase their donations, so they can more effectively help those in need.
