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?
Our current tax code only encourages taxpayers at a certain income level to give back. An FGA would allow taxpayers who don’t itemize their tax deductions to receive tax incentives for their generosity. We believe all working Americans, regardless of income level, should feel empowered to give back!