Politics News Article | Reuters.com:
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"Senate Finance Committee chairman Chuck Grassley, an Iowa Republican leading a campaign to end tax abuses in the charitable sector, plans to introduce legislation by August.
Last year, he pushed through the legislative amendment that cut deductions on car donations in most cases from the estimated fair market value to the actual sale value received by the charity.
As a result, car donations have dropped by 40-50 percent so far this year, said Walter Sczudlo, executive vice president of the Association of Fundraising Professionals.
In 2000, some 733,000 U.S. income tax returns claimed a deduction for donating a vehicle to charity, reducing taxpayer liability by an estimated $654 million, according to government figures. "
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