As reported by the House Committee on Ways and Means on January 18, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2028
2024-2033
Direct Spending (Outlays)
0
0
0
Revenues
*
-1
-1
Increase or Decrease (-) in the Deficit
*
1
1
Spending Subject to Appropriation (Outlays)
*
*
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2034?
No
Statutory pay-as-you-go procedures apply?
Yes
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2034?
< $5 billion
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between -$500,000 and $500,000.
Summary
H.R. 1432 would allow contributions to certain federally chartered veterans’ organizations to be deducted from individual or corporate income taxes as charitable contributions. Under current law, contributions to some veterans’ organizations are deductible only as long as at least 90 percent of the recipient’s members are people who have served in the U.S. Armed Forces during a period of war. The bill also would allow individual tax filers who contribute to a qualifying organization to deduct donations of up to 60 percent of their adjusted gross income—a limit that applies generally to contributions to public charities.