This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Feeding America Urges Protection Of Charitable Giving Incentives

WASHINGTON, Feb. 14, 2013 /PRNewswire-USNewswire/ -- Today the House Ways and Means Committee will meet to hear testimony on tax reform and charitable contributions, specifically the itemized deduction for charitable contributions. Feeding America, the nation's largest domestic hunger-relief organization, commends the Committee for beginning the process of examining the positive impact the charitable tax deduction has on the nonprofit community and urges the Committee to protect giving incentives for nonprofits. 

During the worst economic downturn since the Great Depression, the number of American families struggling to make ends meet increased significantly. In fact, Feeding America's Hunger in America 2010 report shows a 46 percent increase in demand between 2006 and 2010. Though our economy has begun to recover, Feeding America food banks are still experiencing record demand.    

The charitable donation deduction is unique among federal tax deductions in that it encourages giving that strengthens communities rather than directly benefiting the donor. Limiting charitable giving incentives would have a detrimental impact on charities across the nation and would hamper the ability of Feeding America and our network food banks to meet the need for food assistance in communities across the nation. In 2012, individual donors gave $450 million to food banks across the Feeding America network, which represents 53 percent of all funds given to our food banks.

Federal tax policy also plays an important role in encouraging donations of nutritious food to food banks through the enhanced food donation tax deduction. With 78 billion pounds of nutritious food wasted each year, we need to continue to explore ways to improve tax incentives to encourage food donations. It should not cost a company more to donate the food than it does to landfill the food.

At a time when one in eight Americans is turning to Feeding America's food banks to help put food on the table for their families, this tax incentive is critical to Feeding America's ability to meet the needs of our clients. Feeding America provides food to 37 million Americans every year through 61,000 food pantries, soup kitchens and other emergency feeding facilities.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs