Legislation in the 113th Congress

I have introduced several pieces of legislation in the current Congress that address pressing issues facing the United States:

H.R. 1276 – The Currency Reform for Fair Trade Act.

This legislation seeks to level the playing field for American workers and businesses by giving the Obama Administration additional tools to address China’s fundamental undervaluation of its currency.  China suppresses the value of its currency, making China’s exports cheaper than they would be if China allowed its currency to be set by the market.  China’s currency policy places a drag on U.S. economic growth and job creation.  The measures included in this bill provide the Administration with additional tools for enforcing the rules of trade and are consistent with our World Trade Organization obligations.  This legislation is currently pending before the House Ways and Means Committee.

H.R. 2945 – To expand and make permanent tax incentives for small businesses, farmers and ranchers to donate food inventory to charity.

This legislation provides additional incentives for farmers, small businesses, and ranchers to donate wholesome food to charities like food banks and pantries that fight hunger in America.   H.R. 2945 permanently extends the special deduction businesses that donate food inventory to charity are eligible to receive.   Additionally, the legislation would increase the cap of allowable charitable contributions from 10% of income to 15%.  Currently, many businesses are capped at the amount they donate due to the limit on their charitable deduction.  Increasing the cap will encourage more donations from those taxpayers at a time when the need is particularly acute.  This legislation is currently pending before the House Ways and Means Committee.