Charitable Act
- Bill Number
- S. 317
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 1
- Policy Area
- Taxation
- Status
- Introduced
- Latest Action
- 2025-01-29: Read twice and referred to the Committee on Finance.
- Last Updated
- 2025-12-05T21:59:08Z
Official Summary
Charitable Act
This bill allows an individual taxpayer who does not itemize their tax deductions to claim a tax deduction for charitable contributions and eliminates the tax penalty for overstating charitable contributions. (Some limitations apply).
Under the bill, for tax years beginning in 2026 or 2027, an individual taxpayer who does not itemize their tax deductions may deduct charitable contributions of up to one-third of the standard deduction allowed to such individual. (Under current law, an individual taxpayer generally must itemize their tax deductions to deduct charitable contributions.)
The bill also eliminates the tax penalty for an underpayment of taxes attributable to overstated charitable contributions by taxpayers who do not itemize deductions. (Under current law, taxpayers who claim a deduction under this bill may be assessed a tax penalty in the amount of 50% of the portion of an understatement of tax liability attributable to overstated charitable contributions.)
Sponsor
Cosponsors (23)
Sen. Coons, Christopher A. [D-DE], Sen. Cortez Masto, Catherine [D-NV], Sen. Hickenlooper, John W. [D-CO], Sen. Ricketts, Pete [R-NE], Sen. Klobuchar, Amy [D-MN], Sen. Warnock, Raphael G. [D-GA], Sen. Shaheen, Jeanne [D-NH], Sen. Curtis, John R. [R-UT], Sen. Blackburn, Marsha [R-TN], Sen. Moran, Jerry [R-KS], Sen. Britt, Katie Boyd [R-AL], Sen. Scott, Tim [R-SC], Sen. Rosen, Jacky [D-NV], Sen. Wicker, Roger F. [R-MS], Sen. Peters, Gary C. [D-MI], Sen. Collins, Susan M. [R-ME], Sen. Lujan, Ben Ray [D-NM], Sen. Budd, Ted [R-NC], Sen. Boozman, John [R-AR], Sen. Hassan, Margaret Wood [D-NH], Sen. Justice, James C. [R-WV], Sen. Gallego, Ruben [D-AZ], Sen. Hoeven, John [R-ND]
Recent Actions
- 2025-01-29: Read twice and referred to the Committee on Finance.
- 2025-01-29: Introduced in Senate
Bill Versions
- Charitable Act — issued 2025-01-29 — PDF (3 pages)