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WASHINGTON – Rep. Virginia Foxx, R-N.C., today voted in favor of legislation that would provide incentives for charitable giving by making permanent tax deductions for the donation of food, land for conservation and IRA contributions as well as simplifying the tax rate for private foundations.  

“Americans are a giving people whose compassion for others is well known, whether we’re supporting our friends and neighbors when times are tough or responding in generosity during moments of great need,” said Foxx. “The legislation we passed today provides important tax relief to encourage that philanthropic spirit.”

H.R. 644, which passed the House of Representatives by a vote of 279 to 137, would restore an enhanced deduction for businesses that donate food inventory to charities as well as renew the ability to make tax-free distributions from individual retirement accounts to qualifying charities. Additionally the legislation would revive an enhanced deduction for charitable contributions of real property made for conservation purposes and reduce to 1 percent the investment income excise tax rate for private foundations.

According to the National Philanthropic Trust, over 95 percent of American households give to charities. In 2013, Americans gave $335.17 billion.

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U.S. Rep. Virginia Foxx represents North Carolina’s 5th Congressional District and is the elected Republican Conference Secretary. Dr. Foxx is the chair of the House Education and the Workforce Subcommittee on Higher Education and serves as Vice Chair of the House Rules Committee.