White House Renews Support for CARE Act, IRA Charitable Rollover Provision

 

White House Renews Support for CARE Act, IRA Charitable Rollover Provision

News story posted in Executive on 2 June 2004| comments
audience: Partnership for Philanthropic Planning, National Publication | last updated: 18 May 2011
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Summary

According to a news release by the Government Relations Committee of the National Committee on Planned Giving, President George W. Bush at a White House Conference on Faith-Based and Community Initiatives held June 1st gave new assurances the White House is fully in support of the CARE Act and the IRA charitable rollover provision.
Full Text:

NCPG GOVERNMENT RELATIONS UPDATE (June 1, 2004)

The National Committee on Planned Giving has new assurances the White House is fully in support of the CARE Act and the IRA charitable rollover provision. At the special invitation of President George W. Bush, NCPG was represented by Tanya Howe Johnson, CEO, and Craig C. Wruck, Government Relations Chair, at the White House Conference on Faith-Based and Community Initiatives Tuesday in Washington, DC.  NCPG attended the conference to support the CARE Act (S. 476) and the Charitable Giving Act (H.R. 7), both of which contain IRA charitable rollover provisions. 

NCPG's successful drive to move the IRA rollover through Congress, which resulted in broad bipartisan passage of legislation in both the House of Representatives and the Senate, has been frustrated by Congress' unwillingness to convene a conference committee to reconcile the bills. In his opening address, President Bush expressed his frustration that key charitable legislation is "stuck on the hill," explaining that, "It's a debate about process now instead of a debate about purpose." 

The president emphasized his continued support for legislation providing incentives for charitable giving to, "Encourage social entrepreneurs and empower the agencies of change in our communities." "Government cannot be replaced by charities, but it can and should welcome charities as partners," the president said. "Community organizations do a better job than government can alone."

Wruck said the president's statements speak to one of the key points in favor of the IRA charitable rollover provision. "By enacting legislation that could potentially bring about billions of dollars in additional charitable gifts, philanthropic entities will be less likely to rely on government dollars," Wruck said. "I think the president agrees that it's time to reduce that burden."
Mr. Bush praised the work of charitable organizations, saying, "Suffering and despair trouble all Americans regardless of their political standing."

In a private meeting, administration officials assured NCPG that the CARE Act and IRA charitable rollover are still high priorities for the White House.  Later this week, NCPG will be represented in meetings with key legislators to discuss strategies for moving the IRA charitable rollover forward. Johnson is looking forward to a fruitful exchange of ideas on both sides of the Hill. "We are extremely pleased to hear continued support for this policy, especially from the president," Johnson said. "I'm hopeful we're just a short distance away from seeing this legislation through for the public good, and achieving a new level of bi-partisan cooperation in the process."

Source: http://www.ncpg.org

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