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Bill HR571

Automobile companies are still losing large amounts of money, even after the bail out of Congress. Efforts by the car company to close plants, adjustment and no incentives. Nothing works until the people in the United States for the purchase of new cars again. The only stimulus bill from Congress not to change this alarming situation.

The transition from Bill HR 571 supports the lifting of restrictions on the philanthropic organizations of vehicles, the Congress adopted in 2004. These limitations have led to 60% reduction in vehicle donations. Currently, taxpayers can deduct $ 500 or what the charity sells the car, whichever is the higher. Under this law, a taxpayer may deduct the market value of $ 2500 for a donation of your car, and the estimated value of over $ 2500

I can tell you based on my eleven years of experience, a vehicle donation centers of the bill is to sell cars. What increases the sales of new cars? The answer is simple: the tax. The vast majority of people donate their cars because the car has a big problem. An attempt to sell the car with the problem very difficult. That's what makes the tax deduction for the gift of a car so attractive. The better the tax deduction is more likely that this is wrong, donations to charity and buy a used car again.

Here are the benefits of adopting this bill:

• Significant growth in sales of new cars, which, of course, means fewer plant closures fewer layoffs, more people in work, the majority of taxes on government and public money in the form of unemployment checks, etc.
• additional income of charitable organizations, at the time, your donations are very low because of weak economy.
• More income state and local authorities in the form of sales taxes.
• Donors will receive a valuable tax deduction and a good feeling about the contribution to charity.

The disadvantages of this account to:

• The federal government receives less money in income taxes has increased tax deductions for donors.

At present the bill to a standstill in the work of the Committee on ways and means. HR-571 has many advantages for our fragile economy, stuck in committee. I encourage all of their e-mail Congressman or woman and ask him to Congress, Bill HR 571 immediately. Thank you!

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