Finally some good news for those involved in the war on hunger!

[theHandpuppet]

http://www.secondharvest.org/news_room/2006_News_Releases/080406.html

SENATE PASSES LANDMARK LEGISLATION GENERATING UP TO $250 MILLION DOLLARS IN NEW FOOD DONATIONS FOR HUNGRY AMERICANS

A Statement From Vicki Escarra, President & CEO (Second Harvest)

CHICAGO, August 4, 2006—“The US Senate voted last night to extend a new tax incentive for the donation of food to charities as part of the Pension Reform Bill that will generate an estimated more than $250 million in new private sector food donations over the next 24 months. This represents a major victory for America's Second Harvest—The Nation's Food Bank Network, food donors and the 25 million Americans—including 9 million children and nearly 3 million seniors—our food banks and food-rescue organizations serve each year.

For the first time in the history of the United States, all business entities – including farms, small businesses, and restaurants – will receive a tax incentive to help in the fight against hunger in their communities. Under previous tax law, only C corporations, generally larger companies, were eligible for the enhanced deduction for donations of food.

The new law means that through 2007, small businesses, farmers, ranchers and restaurateurs have a real incentive to give food for hunger relief and can deduct from their taxes the value of donated food equal to the basis of donated items plus one-half the fair market value, or two times the basis, whichever is less. The Joint Committee on Taxation estimates that more than $250 million in new food will be donated for food banks and other charities through this change. This is a great step forward to help ensure that our food banks have enough food available to meet growing requests for assistance....

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[orwell]

1. That's great news...

...Second Harvest is a great operation. Much of the food was just going to waste anyway.

[theHandpuppet]

2. I think what's good about this legislation...

... is that it won't be just fat corporations getting the tax breaks for their donations. Now the small farmer, rancher or small businessperson can get those same tax breaks, which is a great incentive.

[orwell]

3. BTW...

...thanks for posting.

Too often we wallow in despair without paying attention to the positives.

[theHandpuppet]

5. You're very welcome!

Believe me, I was so surprised and relieved to find this news I couldn't wait to share it! My only concern is that it was tacked on to the Pension Reform Bill, which I must admit (to my shame) I know very little about. I'm hoping this isn't one of those deals where we Dems have made a pact with the devil.

Anyone here versed in the Pension Reform Bill and can distill it for me?

[Zhade]

4. Only through 2007? Disappointing.

Still - kick/rec.

[rurallib]

6. Must be a catch. Never seen a republican do somthing without a payback.

[theHandpuppet]

7. Yes, it appears you are right, rurallib

Someone on the Poverty Forum provided a breakdown of the vote for this legislation, which as I said had been tacked on to the Pension Reform Bill. Turns out a large majority of Republicans voted Aye and a majority of Dems, Nay. So there had to be a tradeoff there somewhere, no doubt in the Pension Reform Bill. It seems there was the same kind of political gameplaying with this in the way the GOP tried to take on that bit about the estate tax with a bill to increase the minimum wage.

I'm ashamed to say that I know next to nothing about the Pension Reform Bill but the GOP managed to slide that one by us without folks noticing; I only found out about it because of Second Harvest's announcement about the bill to provide tax break incentives for charitible donations. I'm feeling rather bummed now because I feel we've been snookered once again. I'm going to hop over to the GD: Politics forum to see if someone can tell me more about the Pension Reform Bill.