Vote Smart's Synopsis:

Vote to adopt a conference report that extends the deadline by which Congress is required to pass the budget bill until December 16, 2015.

Highlights:

Vote Smart staff and volunteers have provided this synopsis based on an initial review of the text and voting record of HR 644. We will continue to analyze the contents of this bill and will have more information available as soon as possible.

For further status information, call the Voter's Research Hotline at 1-888-VOTE-SMART (1-888-868-3762).

Full Bill Text

Full Bill Text

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that extends tax deductions for certain charitable contributions and tax-free distributions from individual retirement accounts for charitable purposes indefinitely.

Highlights:

• Amends the tax deduction for charitable contributions of “apparently wholesome food” in the following ways (Sec. 2):
• Authorizes the deduction to apply to contributions made after December 31, 2013; and
• Increases the percentage of a taxpayer’s income that may be deducted from 10 percent to 15 percent.

• Authorizes an individual to omit up to $100,000 from taxable income for contributions from certain retirement accounts made before January 1, 2014, and after December 31, 2014 (Sec. 3).

• Amends the tax deduction for “qualified conservation contributions” made by individuals and qualified corporate farmers and ranchers in the following ways (Sec. 4):
• Authorizes the deduction to apply to contributions made after December 31, 2013; and
• Expands eligibility of the deduction to include a “native corporation” that contributes property which was surveyed under the Alaska Native Claims Settlement Act.

• Reduces the excise tax for a private foundation that is exempt from taxation from 2 percent to 1 percent of its net investment income for the taxable year, effective for tax years beginning after the date of enactment of this Act (Sec. 5).

Full Bill Text

Full Bill Text