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| From left, Congressman Schock, Gary C. Smith, President & CEO of NAEIR & Congressman Schilling |
Galesburg, Illinois – Thursday,
January 26, 2012 – A day after having observed the 35th anniversary
of the organization’s founding, NAEIR hosted a joint press conference held
before an audience of the nonprofit group’s employees. Congressmen Aaron Schock
[R-IL18] and Bobby Schilling [R-IL17] each made statements regarding the
significance of H.R. 2592: the Charitable Contribution Parity & Enhancement
Act. The bill would extend a federal tax
deduction to small businesses making inventory donations to nonprofits, schools
and churches.
As the bill’s sponsor, Congressman
Schock stressed that the bill corrects a longstanding disparity between S
Corporations and other small businesses that represent a significant majority
of all companies and larger Regular C Corporations. Currently the up to twice-cost tax benefit on
inventory donations is available to C Corporations but not to smaller
businesses. H.R. 2592 would change that.
Congressman Schilling, a co-sponsor, emphasized the nationwide impact that the
bill would have and it’s bi-partisan support.
Congressman Danny Davis [D-IL7] is another co-sponsor of the bill.
Gary C. Smith, President
& CEO of the organization, underscored the benefits that would be realized
by both the small business community as well as charities across the U.S. He
added that the impact of this legislation needs to be understood on the
grassroots level; promoting greater collaboration between businesses and
charities at the local level.
Mr. Smith and the Congressmen
agree that the passage of H.R. 2592 would provide tax relief to hundreds of
thousands of struggling small businesses. Equally substantial numbers of
charities and those they serve numbering in the millions would benefit through
previously unavailable access to a wide variety of free products.
The Congressmen were in
agreement that this legislation represents a two-pronged economic boost to the
nation’s small businesses and millions of Americans nationwide, currently
struggling under challenging economic times.
Help us to get the word out on the bill! Contact your Representatives on Capitol Hill. Go to www.popvox.com. Registration is quick and easy. Type in HR 2592 in the box on the upper right hand corner. On the next webpage, please click "Support" and ask everyone you know to do the same.
If you're a business and would like to donate to NAEIR, or if you're a nonprofit, school or church and would like to learn more about the benefits of joining, please give us a call at (800)-562-0955.
Help us to get the word out on the bill! Contact your Representatives on Capitol Hill. Go to www.popvox.com. Registration is quick and easy. Type in HR 2592 in the box on the upper right hand corner. On the next webpage, please click "Support" and ask everyone you know to do the same.
If you're a business and would like to donate to NAEIR, or if you're a nonprofit, school or church and would like to learn more about the benefits of joining, please give us a call at (800)-562-0955.
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