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Hospital PAC backs GOP House candidates

Monday, October 1, 2012 - 09:59 Adam Berry/Getty Images The American Hospital Association's PAC is backing Republican candidates who oppose Obama's health care reforms. The political action committee of the  American Hospital Association  reported spending  $968,000  on ads supporting Republican incumbent representatives in Louisiana, Washington, New York and Pennsylvania, all of whom sit on committees that oversee health care issues. The ads support Reps. Charles Boustany Jr. in Louisiana’s 3rd District, Richard Hanna in New York’s 22nd  District, Tom Reed in New York’s 23rd District, Cathy McMorris Rodgers in Washington’s 5th District and  Jim Gerlach in Pennsylvania’s 6th District. The American Hospital Association is a trade group representing hospitals and health care networks. It  opposes  any and all cuts to Medicare and Medicaid, supports lower costs for graduate medical education, wants to simplify regulatory requirements and favors lowering malpractice premiums ...

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Found more than 1 month ago on channel Marketplace.org

United States: Failure To Properly Substantiate Charitable Contributions - WTAS

When a donation is made to a qualified charity, the gift can be claimed as a tax deduction, as governed by Section 170 of the Internal Revenue Code (and related Regulations) and, thereby, can reduce overall taxable income.

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Found more than 1 month ago on channel Mondaq

United States: U.S. House Of Representatives Ways And Means Committee Holds Marathon Session On Charitable Contribution Tax Deduction - Venable LLP

Yesterday, the U.S. House of Representatives Ways and Means Committee held an extensive hearing to address the itemized deduction for charitable contributions under the Internal Revenue Code.

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Found more than 1 month ago on channel Mondaq

Pro-Obama super PAC outpaces GOP counterpart

Monday, October 22, 2012 - 10:28 Justin Sullivan/Getty Images Pro-Mitt Romney super PAC Restore Our Future doubled its monthly hall but was outraised by its pro-Obama counterpart Priorities USA Action for the second month in a row. Restore Our Future , a super PAC supporting Mitt Romney’s candidacy, doubled its fundraising total in September. It took in  $14.8 million , but was still outraised by the pro-President Barack Obama  Priorities USA Action , which raised $15.3 million for the month. The totals show a reversal of a trend — Republicans to date have fared better at raising money for outside groups, though Romney still has American Crossroads, a well-funded super PAC, and Crossroads GPS, a nonprofit, in his corner. Restore Our Future brought in $7 million in August. Most of the major super PACs had until Saturday at midnight to file monthly reports with the Federal Election Commission on September’s fundraising activities. Meanwhile, J. Joe Ricketts, whose conservative  Ending ...

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Found more than 1 month ago on channel Marketplace.org

Secret campaign donations -- so what?

Thursday, October 18, 2012 - 10:48 Joe Raedle/Getty Images Nonprofit social welfare organizations may become more potent political donors than super PACs. And they don't have to disclose who gave money. Campaign finance regulation is an endless game of Whac-A-Mole. There’s always something popping up to respond to new rules , from soft money to 527 groups to super PACs. This year, the scrutinized group pouring tens of millions into races is the 501(c)(4). That clunky IRS alphanumeric refers to nonprofit social welfare organizations. Because of a loophole, they can also finance political activity. Their donors can give as much as they want, with no public disclosure. Our reporting on campaign finance with PBS's Frontline got us thinking about a provocative question about anonymous donations. What’s the big problem with them, anyway? Tackling the question is tricky because it’s so rarely asked. There are fierce arguments about campaign finance, of course, but they’re largely about ...

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Found more than 1 month ago on channel Marketplace.org