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?
79% of surveyed employees prefer to work for a socially responsible company. FGAs would allow businesses to enhance their CSR efforts, empower their employees to give back, and lower their payroll taxes.