Category Archive for: economics

Senator Lankford Introduces Universal Charitable Giving Bill

Senator James Lankford (R-OK) today introduced the Universal Charitable Giving Act, which creates a universal charitable deduction in addition to the standard deduction for individuals and married couples that do not itemize. Currently, only taxpayers that itemize their deductions are able to withhold charitable donations. The Universal Charitable Giving Act incentivizes charitable giving for low-income to…Read More

Trump signs coronavirus relief legislation into law

President Donald Trump on Wednesday signed into law a coronavirus relief package that includes provisions for free testing for Covid-19 and paid emergency leave. The Senate had earlier Wednesday approved the House-passed bill. The move allowed the upper chamber to devote its full attention to passing the next relief package in response to the coronavirus…Read More