U.S. Senate Finance introduce charitable giving bill - KPMG Global
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Legislative update: Senate Finance members introduce charitable giving bill

U.S. Senate Finance introduce charitable giving bill

Members of the U.S. Senate Finance Committee, senators John Thune (R-SD) and Bob Casey (D-PA), have introduced a bill to encourage charitable giving and make it easier for foundations and other tax-exempt organizations to conduct their charitable mission. The bill is co-sponsored by two other Finance Committee members, senators Pat Roberts (R-KS) and Ron Wyden (D-OR).


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According to a press release, the bill—the Charities Helping Americans Regularly Throughout the Year (CHARITY) Act of 2017 (S. 1343)—would:

  • Express the sense of the Senate that the promotion of charitable giving should be one of the goals of comprehensive tax reform
  • Make donor-advised funds an eligible charity for purposes of the IRA rollover law that permits IRA owners ages 70½ years and older to exclude from their gross income up to $100,000 per year in distributions made directly from the IRA to certain public charities
  • Simplify the federal excise tax imposed on private foundation investment income by setting the rate at 1% for nearly all private foundations
  • Authorize the Treasury Department to adopt regulations that align the simplified standard mileage tax deduction rate (for the use of personal vehicles for volunteer charitable services) with the mileage rate that applies for medical and moving purposes
  • Require all tax-exempt organizations to file their annual returns electronically
  • Eliminate alternative rules for substantiating charitable contributions
  • Create a limited exception to the excess business holding excise tax rules


  • Read text of S. 1343 [PDF 38 KB].

  • Read a summary [PDF 138 KB] of the bill.

KPMG observation

S. 1343 is similar to a bill introduced in the previous Congress. 


For more information, contact a tax professional with the exempt organization group in KPMG’s Washington National Tax practice:

Greg Goller | +1 703 286 8391 | greggoller@kpmg.com

Alexandra Mitchell | +1 202 533 6078 | aomitchell@kpmg.com

Randall Thomas | +1 202 533 3786 | randallthomas@kpmg.com

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