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H.R.6408 - To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities.116th Congress (2019-2020)

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Sponsor: Rep. Moulton, Seth [D-MA-6] (Introduced 03/27/2020)
Committees: House - Ways and Means
Latest Action: House - 03/27/2020 Referred to the House Committee on Ways and Means.  (All Actions)

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This bill has the status Introduced

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Summary: H.R.6408 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.6408. Bill summaries are authored by CRS.

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Introduced in House (03/27/2020)

This bill allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions.

The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.