This Wednesday in Washington, House Republican leaders are expected to unveil new details about their proposed tax reform bill.
We've already heard the debate over the proposed state and local tax deductions which could impact New York and other high tax states, now charities are weighing in..
Western New York Congressman Chris Collins says even as state leaders warn it could adversely impact a property owner's tax deduction, he cast one of the crucial votes on a House budget bill which paves the way for the tax reform measure with this explanation of a simplified filing process and an exemption that he says could be worth more than such deductions.
Taxpayers can fill out their taxes literally on a postcard," Collins said. "By doubling the standard exemption to 24 thousand dollars for a family, people aren't even gonna itemize."
But could an estimated 28 million taxpayers also choose to skip itemizing deductions or tax write-offs for charitable contributions?
"It's estimated that five percent annually in revenue could be lost to charities like United Way, like Catholic Charities, and many other not for profits that rely on charitable gifts," said United Way President Michael Weiner. "So we're concerned about that and we're also a little concerned that there hasn't been a lot of debate over that provision."
Weiner also estimates it could take a $750,000 bite out of the Buffalo-Erie County United Way which distributes funding to everything from the Girl Scouts, to Goodwill and education programs.