House committees are proposing legislation to prolong and broaden two charitable tax deductions

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House Committees in Missouri Come Together to Improve Programs for Charitable Tax Credits

Bipartisan Effort Strengthens Support for Vulnerable Communities in Missouri

Two charitable tax credit schemes have been strengthened by measures that have been adopted by different Missouri House committees in a bipartisan effort to benefit vulnerable areas. By a vote of 6-0, the Special Committee on Public Policy advanced HB 1730, a bill that aims to raise the tax credit ceiling for contributions made to food pantries. According to Smart News, the bill’s sponsor Representative Phil Amato, wants to raise the $1.75 million yearly maximum to $3 million and extend its expiration date to 2030. Amato emphasizes the significance of avoiding fines for contributors who beyond the existing cap, stressing the vital part that these contributions play in helping those in need.

Former Missouri legislators keep control of leftover campaign funds •  Missouri IndependentHouse Committees in Missouri Come Together to Improve Programs for Charitable Tax Credits (PHOTO: Missouri Independent)

READ ALSO: R&D Tax Credit Boosts $2.9M For Cyclacel Pharmaceuticals, Putting Them Ahead!

Bipartisan Backing: Missouri Committees Unanimously Rally Behind Extension of Diaper Bank Tax Credits

Representative Mark Sharp’s bill, HB 2384, which would expand tax credits for diaper bank donations, was discussed concurrently by the Ways and Means Committee. Aiming to extend the tax credit until 2030, the measure was originally scheduled to expire in August 2024. Speaking about the negative consequences of diaper scarcity on parent employment and infant health, Representative Sharp emphasizes the need for diaper availability for families. There is bipartisan support for projects that address basic needs in Missouri communities, as seen by the unanimous committee vote of 9 to 0.

READ ALSO: House Democrats Oppose Pregnancy Center Temporary Tax Credit, Raising Issues With Funding Allocation And Women’s Rights

 

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