Tax Credit/Deduction for Political Contributions Proposed

by - November 21, 2013

Not many people give political contributions to campaigns, but when they do give, those giving $200 or less are overshadowed by those giving larger amounts, who account for over 60% of the $4.25 billion contributed to federal campaigns. In an effort to encourage more small dollar contributions from individuals, Rep. Tom Petri, R-Wis., introduced on Thursday the Citizens Involvement in Campaigns (CIVIC) Act, which would restore the tax credit and deduction for contributions up to $200 and $600, respectively. Those tax credits and deductions were in place from 1972 through 1986.

Tax Credit/Deduction for Political Contributions Proposed | Political MoneyLine Blog

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