WASHINGTON, D.C. – As the Senate and House consider legislation to extend tax credits, U.S. Sen. Sherrod Brown today announced inclusion of a provision that will permanently extend several tax provisions that will support charitable giving, food donations, and conservation efforts.

“Americans are generous people. We can help that foster charity by encouraging individuals and organizations to make charitable donations – whether to a food bank or another worthy organization,” said Brown. “This is especially good news for local food banks that rely on donations to feed those most in need.”

“The IRA Charitable Rollover has been a great support for the philanthropic sector and making it permanent will help facilitate the deep charitable impulses of Americans,” said Renée Chelm, Board Chair of the Jewish Federation of Cleveland. “In the past several years, the Jewish Federation of Cleveland has worked with many donors who have increased their philanthropy as a result of the IRA Charitable Rollover.  These funds have benefitted people throughout the Greater Cleveland community as well as nationally and internationally.  The Jewish Federation of Cleveland is deeply grateful to Senator Brown’s longstanding support on this important issue.”

“Senator Sherrod Brown is a long-time champion for working families,” said Lisa Hamler-Fugitt, executive director of the Ohio Association of Foodbanks. “We are so thankful for his hard work in helping to secure permanent expansions of the Earned Income Tax Credit and Child Tax Credit, and an extension of several tax provisions that will support charitable giving and foodbank donations. We applaud him for his strong leadership on these provisions and his commitment to fighting for everyday Ohioans.”

“On behalf of those who are struggling in our communities, Mid-Ohio Foodbank is deeply appreciative of Senator Brown’s leadership to make permanent the Earned Income Tax Credit and the Child Tax Credit, and for his determined work to reinstate and increase the food donation tax deduction," said Matt Habash, President & CEO of Mid-Ohio Foodbank. "It is through his continued resolve that our hungry neighbors and working families have a voice in Washington. When Ohioans face tough times, these tax credits have a direct impact on family budgets. The Earned Income Tax Credit and Child Tax Credit is smart public policy that encourages work, stabilizes families and helps to create a sustainable pathway out of poverty.   Studies have shown time and again that these tax credits are benefiting families, children and the economy, and are having a positive, collective impact on those we serve. Thanks to Senator Brown for his steadfast commitment to our hungry neighbors, and the Foodbank stands behind him to permanently extend expansions of the Earned Income Tax Credit and the Child Tax Credit, two of the most important tools that the nation has in its reserve to help all Ohioans to thrive.” 

The bill will:

  • Reinstate the food donation tax deduction: The bill will reinstate a deduction that encourages individuals and organizations to donate food by providing a tax deduction for donations. It will also increase the deduction to 15 percent of one’s taxable income for food donations.
  • Reinstate the Individual Retirement Account (IRA) charitable rollover: In 2006, as part of the Pension Protection Act, Congress established what is referred to as the “charitable rollover.” This tax provision allows individuals aged 70 and a half and older to withdraw up to $100,000 from an individual retirement account (IRA) tax-free so long as that money is donated to a qualified charitable organization. The provision not only allows individuals to support charities in their community, but also ensures that seniors who wish to give to charity can use money in their retirement accounts without affecting their benefit levels for other programs, such as Social Security or Medicare.
  • Reinstate deductions for conservation easement donations: This deduction incentivizes land conservation by providing a credit to famers and other landowners to work with land trusts to voluntarily conserve land.