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Palace welcomes US passage of 'Yolanda' tax relief law.

Malaca?ang welcomed the enactment of Philippine Charitable Giving Assistance Act by the United States government, noting that the law will help in the long-term rehabilitation of areas devastated by super typhoon "Yolanda" (Haiyan).

In an interview with government radio dzRB, Deputy Presidential spokesperson Abigail Valte said the law will give incentive to donors for them to continue helping Yolanda-stricken areas.

The Department of Foreign Affairs (DFA) earlier said the Philippine Charitable Giving Assistance Act "underscores the importance the US Government places on the immediate recovery of typhoon-devastated areas in the Philippines."

DFA said the bipartisan bill is intended to spur donations to charitable organizations by allowing taxpayers who donate to the relief efforts now to receive benefits on their 2013 tax returns.

"This is an initiative of US lawmakers aimed at encouraging the American people to continue their contributions to the relief efforts and the early stages of the long-term rebuilding process," DFA said.

The law was introduced in the US House of Representatives by Congressman Eric Swalwell (D-CA) and was co-sponsored by 35 congressmen made up of 26 Democrats and nine Republicans.

In the US Senate, it was sponsored by Senators Mazie Hirono (D-HI), Dean Heller (R-NV), Harry Reid (D-NV) and Robert Menendez (D-NJ).

The US House of Representatives unanimously passed HR 771 last March 24 and approved by Senate the following day on March 25. The Senate passed its version (S 1821) last March 6.

President Barack Obama signed the bill into law last March 25.

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Title Annotation:National
Publication:Manila Bulletin
Date:Apr 5, 2014
Words:251
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