Tax Breaks For Haiyan Donors
Earlier this month, the U.S. Senate unanimously voted to pass the Philippines Charitable Giving Assistance Act that will quickly get tax relief into the hands of Americans making charitable donations to Typhoon Haiyan relief efforts.
The bill was sponsored by U.S. Sen. Mazie Hirono, along with Sens. Dean Heller, Harry Reid and Robert Menendez in an effort to encourage continued donations. The tax benefits will be provided to those who donate about a year before they typically would be applicable.
The legislation also is supported by the Waipahu-based Filipino Community Center, as well as the Consuelo Foundation, which has been partnering with FilCom to provide typhoon aid funding.
“Nearly four months have passed since Typhoon Haiyan devastated the Philippines, leaving behind as many as 6,000 dead, almost 1,800 missing and more than a million destroyed homes,” Hirono stated.
“This continues to be a heartbreaking situation, and I was moved by the stories shared with me this January by Filipino American community advocates of their experiences touring damage in the Philippines.
“Given the great deal of help still needed, the Philippines Charitable Giving Assistance Act will provide tax relief this year for families who have already donated and incentivize others to make new contributions.”