Following is a statement by Association of American Universities President Mary Sue Coleman on the introduction of the Universal Charitable Giving Act:
I applaud Senator James Lankford and Representative Mark Walker for introducing the Universal Charitable Giving Act, which incentivizes taxpayers at every income level to make charitable gifts to the nonprofit causes of their choice.
This proposal would be a positive contribution to the current Senate and House tax bills which would significantly reduce the number of taxpayers who itemize and lead to a decline in donations to all nonprofit organizations. The Universal Charitable Giving Act counteracts this anticipated drop by creating an above-the-line deduction of up to one-third of the standard deduction, and allowing taxpayers to claim it regardless of income.
All Americans – not just the wealthy – should be offered the same incentive and tax benefit to give to charitable causes important to them. For higher education, this will mean greater access and affordability for students and their families, and more of the advances in medical and other scientific research that keep Americans healthy and maintain our global leadership role.
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Founded in 1900, the Association of American Universities comprises 62 distinguished institutions that continually advance society through education, research, and discovery.
Our universities earn the majority of competitively awarded federal funding for academic research, are improving human life and wellbeing through research, and are educating tomorrow’s visionary leaders and global citizens.
AAU members collectively help shape policy for higher education, science, and innovation; promote best practices in undergraduate and graduate education; and strengthen the contributions of research universities to society.