Senators want to lift limits on donations to Haiti - WAOW - Newsline 9, Wausau News, Weather, Sports

Senators want to lift limits on donations to Haiti


WASHINGTON (AP) -- Some senators are trying to encourage charitable donations for Haitian earthquake victims by proposing a temporary increase in tax benefits for relief contributions.

The changes would be similar to those enacted after Hurricane Katrina hit the Gulf Coast in 2005.

Under current law, individuals cannot apply tax write-offs to donations that are larger than 50 percent of their annual income.

Corporations cannot apply write-offs to donations larger than 10 percent of their income. A bill by Democratic Sens. Charles Schumer and Kirsten Gillibrand of New York and Bill Nelson of Florida, and Republican Sen. George LeMieux of Florida would suspend the limits for 2010.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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