Statements

Establishing a Tax Credit For Donations To Food Banks

By January 8, 2020No Comments

Poverty is a major problem here in New York and across the country. While poverty statistics vary, USNews.com reported that 14% of Americans lived in poverty in 2016. Many low-income people rely on the generosity of food pantries to provide them with daily sustenance when their own resources run out. In turn, food pantries rely upon the generosity of donors to supply them with the food that they give to the poor.

Bill S.1241-Serino would give grocery stores, wholesalers, restaurants, and caterers a tax incentive to donate unused food to food pantries. Under this bill, an eligible taxpayer (such as a grocery store) would receive a tax credit in the amount of 25% of the value of the food that it donates to food pantries in a given year. It is hoped that this tax credit would encourage grocery stores and other businesses to donate unused food rather than simply discarding it. Also, more donations to food pantries would make it less likely for food pantries to experience shortages.

The New York Young Republican Club respectfully calls upon the Legislature to pass this common-sense bill, which would both assist persons living in poverty and reduce food waste.

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