Posted on 09/13/2005 5:14:10 AM PDT by stopem
WASHINGTON (AP) - Lawmakers proposed tax changes Monday to encourage charitable giving and help victims of Hurricane Katrina get back on their feet.
The Senate's top tax writers offered a package of tax aid that would let hurricane victims tap their retirement accounts without penalty. It also would assist businesses and encourage the donations of cash, food and school books.
Senators said the incentives, estimated roughly to reduce taxes by $5 billion to $7 billion, could pass quickly this week. It would be followed with provisions for health coverage for storm victims and, later, by tax incentives to rebuild battered towns and cities, they said.
(Excerpt) Read more at cnn.netscape.cnn.com ...
Why must the tax code be more gunked up for charitable giving? Is there something wrong with the almost $750 million already donated in just two weeks? Why does Washington think it has to drop a carrot in front of us otherwise we will not act? Hosers. They think it's only an idea if they think of it.
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