The Magazine of IEEE-Eta Kappa Nu July 2017 - 25

SPOTLIGHT

Tax Reform Presents Opportunity for IEEE and Eta
Kappa Nu
By Stan Retif, IEEE Foundation
With change comes opportunity. As lawmakers in
Washington, D.C., move closer to a comprehensive overhaul
of the tax code, they have an opportunity to preserve and
expand a provision that is proven to increase charitable
giving. That's why nearly 200 representatives of nonprofits
from across the country, including the IEEE Foundation,
fanned out recently on Capitol Hill to encourage lawmakers
to enact a universal charitable deduction.
It is undeniable that the current tax deduction for charitable
contributions works. It's good tax policy. Study after study
confirms that this tax incentive encourages Americans
to give more to the charitable causes that are important
to them. Individual giving is the single largest source of
contributions to America's charities. In 2015, donors gave
nearly $265 billion to charities, supporting the broad,
diverse and vital network of nonprofit organizations that are
the backbone of communities across our country.
With tax reform, Congress can take good tax policy
and make it great. The current charitable deduction is
available only to taxpayers who itemize their tax returns.
Many of the proposals to simplify the tax code include
reconfiguring the standard deduction so that more
taxpayers won't need to itemize. This could be welcome
relief from complex tax returns - but it takes away from
many taxpayers the charitable giving incentive.
Instead of offering a charitable giving incentive to
fewer people, we should strive to make it available to

THE BRIDGE // Issue 2 2017

all Americans, regardless of income level or how they
file their taxes. A universal charitable deduction would
increase giving, in terms of both dollars and donors,
increase fairness by treating all taxpayers' contributions
equally, and provide modest tax relief to middle- and
lower-income taxpayers.
Imagine what that could look like for IEEE. IEEE-HKN,
the honor society of IEEE, is dedicated to encouraging
and recognizing individual excellence in education and
meritorious work, in professional practice, and in any of
the areas within the IEEE-designated fields of interest.
Through individual chapters on campuses to gatherings
such as the Student Leadership Conference, HKN is
making its mark. HKN Members who lend charitable
support should have continued access to the charitable
tax deduction.
Americans support charitable tax incentives because they
work. A 2016 national survey of voters commissioned by
Independent Sector found that 88 percent of respondents
believed Congress should make it easier to deduct
charitable contributions from taxes. The research also found
that 79 percent believe that all taxpayers should be able to
take advantage of the charitable deduction.
This year, 2017, marks the 100th anniversary of the
charitable tax deduction. Congress should recognize this
important milestone by doing something great for America's
charities - enact a universal charitable deduction.

25


http://www.ieeefoundation.org/IEEE_HKN http://www.HKN.org

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http://www.brightcopy.net/allen/brid/113-3
http://www.brightcopy.net/allen/brid/113-2
http://www.brightcopy.net/allen/brid/113-1
http://www.brightcopy.net/allen/brid/112-3
http://www.brightcopy.net/allen/brid/112-2
http://www.brightcopy.net/allen/brid/112-1
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