Congress OKs Taxpayer Incentive for Donating to Asia Relief Effort
Taxpayers who make donations this month to aid the victims of December’s southern Asia tsunami would be able to claim deductions on their 2004 tax returns under legislation Congress passed Thursday.
The bill, which passed the House and Senate by voice vote and was sent to President Bush, is aimed at encouraging private donations to the relief effort. Normally, taxpayers would have to wait until next year to claim a tax deduction for contributions made this month.
“The American people are some of the most generous in the world, and this proposal will give them an extra incentive to support this great cause,” said Sen. Max Baucus (D-Mont.), who sponsored the measure with Finance Committee Chairman Charles E. Grassley (R-Iowa).
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