Passing bill HR 6727 will help taxpayers, charities

The current economic crisis has hit everyone hard. With most Americans cutting back on spending, car sales and donations to charities have plummeted. At the same time, the demand for help from charities that assist low income and homeless citizens has increased sharply.

The passage of bill HR 6727 will help alleviate some of this strain by repealing the limitation to vehicle donations enacted by Congress in 2004. Under this bill, taxpayers would be allowed to deduct the fair market value up to $2,500 for their car donation, and the appraised value over $2,500. Currently, taxpayers are only allowed to deduct $500 or what their car sells for, whichever is greater.

Passing this bill will be the equivalent of an economic stimulus. It will provide a much needed incentive for taxpayers to donate their old car and purchase a newer one. The result will be a valuable tax deduction for taxpayers, increased car sales and more money to charities. It will be a win-winwin situation.

I am asking everyone: taxpayers, auto dealers, auto workers, charities, etc. to write, call, e-mail or fax their congressional members and urge them to pass bill HR 6727 immediately. A sample letter can be found at www.cars4charities. org/press.php.
Karen Campese
President/CEO
Cars4Charities Car Donation
Center