Today’s High Inflation Will Increase Retirement Health Care Costs…Forever

Associated Press

Senators issue bipartisan call to restore donors’ tax breaks

Both Democratic and Republican lawmakers called Thursday for restoring the charitable deduction for donors who don’t itemize their taxes, a priority for nonprofits nationwide, but a key senator was noncommittal on the question of whether to support legislation designed to boost payouts from foundations and donor-advised funds. “The charitable deduction is a lifeline, not a loophole,” said Sen. Ron Wyden, a Democrat from Oregon, who said there would be bipartisan support for renewing and expanding the deduction. Sen. James Lankford, a Republican from Oklahoma, echoed that call, saying he was “passionate” about expanding the charitable deduction.

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