Even though the fiscal cliff back-and-forth was about as enjoyable as a root canal, some good news specific to United Way and non-profits across the country came from the agreement, as outlined by our public policy specialist in the Boston office, Russet Morrow:
Here’s some great news to kick off the new year – thanks to advocates like you, the charitable tax deduction was PRESERVED in the fiscal cliff negotiations! Please see below for a more detailed message from Steve Taylor at United Way Worldwide. Thank you again for all of your work – without you, this would not have happened.
On Dec. 31, the Senate passed legislation to avert the “fiscal cliff” by a vote of 89-8. Last night, the House passed the bill by a vote of 257-167. The President is expected to sign the bill quickly. This legislation has important implications for United Way and the people we serve as described below.
First I want to thank you all for your efforts during the last several months and years on the charitable deduction and congratulate you all on our interim success. Because of your efforts, the charitable deduction was not capped or limited as had been proposed by the President, Governor Romney, and various commissions and pundits. Also key for United Way is a 5 year extension of expanded EITC provisions and an extension of the IRA Rollover through 2013.
I am certain that the charitable deduction would have been limited during the fiscal cliff negotiations if United Way had not led the sector-wide effort to protect it. You all really stepped up your advocacy and it worked!