The CARE Act Letter
Letter to the Senate re: S. 476, The CARE Act
April 7, 2003
Re: S. 476, The CARE Act
Dear Senator:
On behalf of the higher education associations listed below, I
write to express our enthusiastic support for the Charity Aid, Recovery
and Empowerment (CARE) Act of 2003, scheduled for floor consideration
this week. We urge you to support this important legislation.
The CARE Act of 2003, as approved by the Senate Finance Committee,
contains a top tax priority for the higher education community that
will generate significant additional funding for our nation’s
charities at a time when many are struggling to meet the demand
for increased services in their communities. The Individual Retirement
Account (IRA) rollover provision would significantly increase donations
to charities while eliminating the current tax penalties. Donors
ages 59 1/2 and older would be able to make indirect gifts (i.e.,
via a charitable remainder trust) directly to charities –
including colleges and universities – from excess retirement
account funds. It would also allow donors ages 70 1/2 and older
to make direct/cash gifts to charities.
As the attached list of associations indicates, the CARE Act of 2003 is widely supported throughout the higher education community. This support is based upon the understanding that the proposal will be both efficient and effective in stimulating new charitable gifts. We strongly support removing current barriers to charitable giving like the tax penalties that exist under current law. Please give your strongest support to the passage of this important legislation.
Sincerely,
David Ward
President
DW/cms
On behalf of:
American Association of Collegiate Registrars and Admissions Officers
American Association of Community Colleges
American Association of Presidents of Independent Colleges and Universities
American Association of State Colleges and Universities
American College Personnel Association
American Council on Education
American Dental Education Association
APPA: The Association of Higher Education Facilities Officers
Association of Academic Health Centers
Association of American Universities
Association of Catholic Colleges and Universities
Association of Independent Colleges of Art and Design
Association of Jesuit Colleges and Universities
Association of Southern Baptist Colleges and Schools
Council for Advancement and Support of Education
Council for Christian Colleges and Universities
Council of Graduate Schools
Council of Independent Colleges
Hispanic Association of Colleges and Universities
Lutheran Educational Conference of North America
National Association for Equal Opportunity in Higher Education
National Association of College and University Business Officers
National Association of Graduate-Professional Students
National Association of Independent Colleges and Universities
National Association of Schools and Colleges of the United Methodist
Church
National Association of State Universities and Land-Grant Colleges
National Association of Student Financial Aid Administrators
National Association of Student Personnel Administrators
National Council for Community and Education Partnerships
United Negro College Fund