Schock Charitable Giving Measure Passes House with Overwhelming Support

Press Release

The House of Representatives today approved the Permanent IRA Charitable Contribution Act of 2015 (H.R. 637), a measure that makes important temporary reforms a permanent part of the tax code. The bill passed with strong bipartisan support by a vote of 279-137. The provision was introduced as part of the larger Fighting Hunger Incentive Act (H.R. 644) and, if enacted into law, would enhance our nation's longstanding tradition of charitable giving by making permanent a measure that allows tax-free distributions from individual retirement accounts (IRA). National and Illinois-based charities including the Red Cross, United Way, and the Boys and Girls Club have benefitted from the IRA rollover and supported permanency of the provision.

"IRA charitable rollover permanency isn't about the donor, it's about the recipient. So why don't we give certainty to the recipient?" Schock said. "By making this provision permanent, and not waiting until the end of the year for another renewal, we're making sure that millions of American charities have the necessary resources to close the gaps in our communities by fighting hunger, homelessness, and illiteracy."

The Permanent IRA Charitable Contribution Act allows American taxpayers ages 70 ½ and older to donate up to $100,000 from their individual IRAs towards charitable organizations without negative tax consequences. The IRA charitable contribution incentive was initially enacted as part of the 2006 Pension Protection Act, and has since been extended four times. Most recently, H.R. 5771 continued the IRA charitable giving incentive for two weeks before lapse in January.

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