H.R. 1081 - Charitable Giving Tax Deduction Act

117TH CONGRESS
1ST SESSION

H.R. 1081

To amend the Internal Revenue Code of 1986
to allow the deduction for charitable contributions
as an above-the-line deduction.

IN THE HOUSE OF REPRESENTATIVES

FEBRUARY 15, 2021

Mr. SMITH of New Jersey (for himself and Mr. CUELLAR)
introduced the following bill; which was referred
to the Committee on Ways and Means 

A BILL

To amend the Internal Revenue Code of 1986 to allow the deduction for charitable contributions as an above-the-line deduction.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the "Charitable Giving Tax Deduction Act".

SEC. 2. DEDUCTION FOR CHARITABLE CONTRIBUTIONS ALLOWED IN DETERMINING ADJUSTED GROSS INCOME.

(a) IN GENERAL. — Section 62(a) of the Internal Revenue Code of 1986 is amended by inserting after paragraph (7) the following new paragraph:

"(8) CHARITABLE CONTRIBUTIONS. — The deduction allowed under section 170.".

(b) CONFORMING AMENDMENT. — Section 170(b)(1)(H) of such Code is amended by striking "(computed without regard to any net operating loss carryback to the taxable year under section 172)." and inserting the following: "computed without regard to —

"(i) section 62(a)(8), and

"(ii) any net operating loss carryback to the taxable year under section 172.".

(c) REPEAL OF SUPERSEDED PROVISIONS. — Section 212 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (other than subsection (c) thereof) is repealed and each provision of law amended by such section (other than such subsection) is amended to read as such provision would read if such section had never been enacted.

(d) EFFECTIVE DATE. — The amendment made by this section shall apply to taxable years beginning after December 31, 2020.