Freitag, 22. Januar 2010

US House OKs Accelerated Tax Deductions For Haitian Aid

WASHINGTON -(Dow Jones)- The U.S. House of Representatives unanimously passed legislation Wednesday that would accelerate income-tax deductions this year to victims of last week's earthquake in Haiti.

Under the legislation, individuals may claim itemized charitable deductions for donations to Haitian victims this year on their 2009 tax return, rather than wait to claim 2010 donations on their 2010 tax return. Lawmakers said Congress took a similar approach in Jan. 2005 for individuals making charitable contributions to victims of the Dec. 2004, Indian Ocean tsunami.

In addition, the bill specifies that individuals who used text-messaging to make such a donation will be able to use their phone bill as proof of having made a donation.

The bipartisan bill was introduced Tuesday by House Ways and Means Committee Chairman Charles Rangel (D, N.Y.) and Rep. Dave Camp (R., MI), the senior Republican on the tax-writing panel. House Majority Whip James Clyburn (D., S.C.), House Minority Whip Eric Cantor (R., Va.), and 152 other House members co-sponsored the bill.

Rangel said in a statement he hopes the bill will encourage people to donate to relief efforts in Haiti.

"To the extent this legislation can encourage Americans to increase what has already been an outpouring of generous support for the people of Haiti, it deserves the support of every member of this House, the Senate and the President's immediate signature," Camp said in the same statement.

Copyright 2009 Dow Jones Newswires

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