Monday, December 21, 2015
YOUNGSTOWN — U.S. Sen. Sherrod Brown has announced his support of a tax-extenders bill that includes a provision offering a tax break to further encourage individuals, organizations and businesses to donate to food banks and pantries, especially during the holidays.
“This is a tough time of year for a lot of people, including those without adequate food,” Brown, a Democrat from Cleveland, said during a news conference today at Second Harvest Food Bank of the Mahoning Valley, 2805 Salt Springs Road, on the West Side.
The tax break is another incentive for the entities to donate food, after which they will receive tax deductions for their efforts, he noted.
Last Friday, the Senate passed legislation to reinstate or extend several such deductions, including a permanent extension of the food-donation tax deduction.
In addition, the deduction’s limitation was increased from 10 percent to 15 percent of adjusted gross income.
The legislation also will include a refundable tax credit in which those eligible could receive up to $3,000, money they can use to pay bills and take care of other essential needs, Brown explained, noting that an estimated 1.7 million Ohioans, mainly young people, rely on food stamps.
For the complete story, read Tuesday's Vindicator and Vindy.com