Texas Insider Report: WASHINGTON D.C. Rep. Pete Olson (R-Sugar Land) today voted to permanently extend incentives for charitable giving that support the
critical work of nonprofit organizations across the country. Olson voted in support of H.R. 644 the America Gives More Act a bill that would permanently renew tax credits for charitable giving including contributions of food inventory and allow tax-free distributions from individual retirement accounts for charitable purposes.
America is at its best when we help one another in times of need Rep. Olson said.
After Hurricane Ike devastated our area Texans came together and pulled our communities through that natural disaster. Charitable giving is one of the cornerstones of strong communities and should not be subject to the onerous federal tax code.
I fully support efforts to increase charitable giving and reduce tax burdens on hard-working Texans. I hope the Senate will pass this important bill soon as well.
The bill passed the House by a vote 279 - 137. The bill now heads to the Senate for action.
