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Mon August 5, 2013
Moran Sponsors Bill Extending Tax Breaks for Food Donations
A committee in the U.S. Senate will consider legislation co-sponsored by Senator Jerry Moran and aimed at using tax credits to increase donations to food banks. The legislation would expand tax credits for businesses that donate food.
The credit is only allowed for certain businesses, but has been temporarily expanded to other businesses until the end of this year. The bill would make that expansion permanent, and make farmers eligible to use the credit.
Valerie Nicholson-Watson is president and CEO of Harvesters, a food bank network in Kansas and Missouri. She says massive amounts of food go to waste in certain industries, but without the tax credit, the time and cost needed to handle and actually donate the food can be a disincentive to businesses.
“In order for us to secure that food we need some incentives for people making the donations,” she said.
The bill is being co-sponsored by two Democrats and two Republicans. It will now be considered by the Senate finance committee.