Senate Finance Committee chair Chuck Grassley, R-Iowa, and ranking member Max Baucus, D-Mont., announced a plan Tuesday to extend the period of time in which Americans can claim tax deductions for charitable donations to assist victims of the earthquake and tsunami that hit Southeast Asia on Dec. 26.
Under the proposal, which comes a day after President George W. Bush named former Presidents Bill Clinton and George Bush to lead a massive fund-raising drive for the disaster, taxpayers would be able to claim a tax deduction in tax year 2004 for donations made for tsunami disaster relief until Jan. 31, 2005.
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