Only gifts above 0.5 percent of the contribution base count
What the document says“Any charitable contribution otherwise allowable (without regard to this subparagraph) as a deduction under this section shall be allowed only to the extent that the aggregate of such contributions exceeds 0.5 percent of the taxpayer's contribution base”
The section adds a new subparagraph (I) to section 170(b)(1) of the Internal Revenue Code of 1986 allowing a charitable contribution as a deduction only so far as the total of such contributions exceeds 0.5 percent of the taxpayer's contribution base for the year, applied by taking the contribution types in a set order: subparagraph (D), then (C), then (B), then (E), then (A), then (G).
What the document actually says“Any charitable contribution otherwise allowable (without regard to this subparagraph) as a deduction under this section shall be allowed only to the extent that the aggregate of such contributions exceeds 0.5 percent of the taxpayer's contribution base”
A gift counts only above a set line. That line is half a percent of the taxpayer's base.
Gifts below the line get no deduction. The base is a measure of income. The types of gift are counted in a fixed order.
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