To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving, and to provide for loans and loan guarantees to certain public charities.

[AI summary unavailable — showing source text] This bill allows taxpayers to claim a tax deduction for charitable contributions even if they do not otherwise itemize their deductions. The bill also directs the Department of the Treasury to make or guarantee loans to tax-exempt charitable organizations. The aggregate amount of such loans may not exceed $60 billion. Treasury must give priority in making such loans to organizations that are providing direct assistance to the COVID-19 (i.e., the coronavirus disease 2019) response effort.…