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Wednesday, November 30, 2011

Charitable Contribution Parity & Enhancement Act (HR 2592)

By Cruz A. Ramos, Vice President/Public Affairs (car@naeir.org)

Michgan Senator Debbie Stabenow
and Cruz Ramos
During the week of 13 November 2011, Gary Smith, NAEIR’s President & CEO along with Jim Jones, Director of Public Affairs, and Cruz Ramos all traveled to Washington, DC for a series of meetings with various staff members of congressional offices on Capitol Hill.  Darren Collier, Senior VP of the McGuire-Woods Consulting firm has been instrumental in scheduling meetings on NAEIR's behalf with the staff of key members of Congress.


 
From Left to Right: Rosalyn Kumar, Tax Counsel, Gary C. Smith, President & CEO, NAEIR, and
Jason LaGosh, Legislative Aide to Debbie Stabenow, United States Senator - Michigan

This is all part of NAEIR Executive Management's continuing effort to increase interest and support for HR 2592, the Charitable Contribution Parity & Enhancement Act.  This bill would extend the enhanced deduction available only to Regular ( C ) Corporations at this time - to S Corporations and other small businesses going forward, when they donate excess inventory to charitable organizations and schools.
Rosalyn & Gary
As can be imagined, with the leading headlines trumpeting the Super Committee stalemate, the national debt and jobs among other issues, these days passage of any legislation not immediately related to any of the above won’t draw as much attention. 

Nevertheless, NAEIR is not dismayed and continues to look for opportunities to move the “bill” forward and have been encouraged by some of the ideas, recommendations and expressions of support that have been offered during the aforementioned meetings.  This, in spite of some of what appears to be the general lack of progress in promoting legislation of virtually any kind on Capitol Hill. 

As stated previously, this bill would incentivize many more American companies to donate greater amounts of excess inventory to tens of thousands of charitable organizations coast to coast. 

The Charitable Contribution Parity & Enhancement Act would throw a life-line in the direction of America’s small business community and beleaguered nonprofit organizations, both hard hit by the economy.

You may send an email to Cruz A. Ramos at car@naeir.org.  He may also be reached at 309/343-0704, ext 341.  All media queries are welcome as well.

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