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Lift cap to boost charitable giving


POSTED: 01:30 a.m. HST, Jun 18, 2013

~~<p>Cutting back itemized deductions for higher-income state taxpayers seemed one of the ways for the state to make ends meet in the midst of the recession, but unfortunately, those hurt most were lower-income residents dependent on nonprofit organizations. Now, two years later, state lawmakers have recognized that charitable donations should be exempted from the itemized-deduction cap so that nonprofits can rebound to perform crucial services for and within our community. The governor's signature on such a bill is urged.</p>
<p>In 2010, then-Gov. Linda Lingle was right in vetoing a bill that would have capped itemized deductions, calling it a &quot;de facto increase that will adversely hurt certain individuals and businesses at a time when we should be encouraging investment and spending to recharge the economy,&quot; and adding that it would damage charities that depend on contributions. But that wasn't enough to stop the legislation in 2011, so the temporary caps are in place until January 2016.</p>
~~

Cutting back itemized deductions for higher-income state taxpayers seemed one of the ways for the state to make ends meet in the midst of the recession, but unfortunately, those hurt most were lower-income residents dependent on nonprofit organizations. Now, two years later, state lawmakers have recognized that charitable donations should be exempted from the itemized-deduction cap so that nonprofits can rebound to perform crucial services for and within our community. The governor's signature on such a bill is urged.

In 2010, then-Gov. Linda Lingle was right in vetoing a bill that would have capped itemized deductions, calling it a "de facto increase that will adversely hurt certain individuals and businesses at a time when we should be encouraging investment and spending to recharge the economy," and adding that it would damage charities that depend on contributions. But that wasn't enough to stop the legislation in 2011, so the temporary caps are in place until January 2016. Login for more...



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