Obama signs bill for faster tax breaks for Haiti donations
By APFriday, January 22, 2010
Obama signs bill on Haiti donation tax breaks
WASHINGTON — Taxpayers will be able to write off charitable donations to Haiti earthquake relief efforts when they file their 2009 taxes this spring under a bill President Barack Obama signed Friday.
The measure sped through Congress, receiving final approval Thursday.
Under current law, donors would have to wait until they file their 2010 returns next year to take the deductions. The bill would allow donations made by the end of February to be deducted from 2009 returns.
The hope is to encourage more donations. Obama has enlisted two former presidents — George W. Bush and Bill Clinton — to help raise money for quake victims.
A similar law was enacted in 2005 for donations to victims of the Indian Ocean tsunami in December 2004.
The White House announced this week that the president and first lady Michelle Obama donated $15,000 from their personal bank account to the Haiti relief effort.
Tags: Barack Obama, Bill Clinton, Caribbean, Haiti, Latin America And Caribbean, North America, United States, Washington
