July 17, 2014
Congressional Updates from Americans for the Arts
July 15 – The House Subcommittee on the Interior had proposed an $8 million cut each from the FY 2015 budgets of the National Endowment of the Arts and the National Endowment for the Humanities.
Weâ€™re really pleased to report that when this bill came before the Full Appropriations Committee today, the Interior Subcommittee Chairman Ken Calvert (R-CA) announced that he had made some â€œmanagerâ€™s amendmentsâ€ to the bill. He restored the cuts to the two federal cultural agencies and now the bill moves to the House floor with a $146 million recommendation for the NEA and NEH each.
July 17 – One more piece of good legislative news coming out of Washington, DC this week. The House of Representatives passed a bill 277-130 to make permanent a series of charitable tax provisions. Specifically, two of these provisions will help nonprofit arts organizations raise private donations while offering individual taxpayers enhanced tax deductions. Itâ€™s a win-win situation. If these provisions also get passed by the Senate and signed into law by the President, they would do the following:
Â· Extend through April 15 the deadline for claiming charitable donations on the previous year’s tax filing.
Â· Encourage taxpayers 70.5 years of age or older to make a charitable donation by designating a charity to receive their automatic IRA distributions directly, instead of themselves, which would otherwise have been subject to income tax.