07/29/2021 | Press release | Distributed by Public on 07/29/2021 09:25
WASHINGTON - U.S. Senators Bill Cassidy, M.D. (R-LA) and Tammy Duckworth (D-IL) introduced the Charitable Equity for Veterans Act to overturn a provision that prohibits veteran organizations from accepting tax-deductible donations if their membership contains over 10 percent peacetime veterans.
'Those who served in the armed forces should be treated equally whenever they served! This legislation will fairly treat millions of peacetime veterans who were willing to serve our nation,' said Dr. Cassidy.
'Veterans organizations provide vital support, assistance and community programming for those who served our nation,' said Senator Duckworth. 'I'm proud to co-lead this legislation to reform our tax code so that it promotes, rather than discourages, involvement in these local entities, helping ensure they can continue to be a resource for Veterans to lean on.'
Nearly 2.5 million of the 20 million veterans across the U.S. are peacetime veterans. Certain congressionally-chartered veterans organization are forced to deny peacetime veterans membership to avoid dipping below the 90% threshold and losing their ability to accept tax-deductible donations. Representatives Brad Wenstrup (R-OH-02) and Ron Kind (D-WI-03) introduced companion legislation in the U.S. House of Representatives.
'Veterans Service Organizations provide important resources and support for our veterans and military families, but outdated regulations are creating costly burdens for some of these organizations,' saidRepresentative Kind. 'That's why I'm teaming up with colleagues on both sides of the aisle to introduce The Charitable Equity for Veterans Act. This bipartisan bill will cut through government red tape and amend the tax code to allow for all major Veterans Service Organizations - regardless of when and where their members served - to have the resources they need to assist our veterans back here in Wisconsin.'