If it is true that people vote with their wallets, then they have been voting in record amounts this campaign season. According to Open Secrets, presidential candidates—including those who lost in the primaries—have raised a collective $1.5 billion so far this cycle. Since entering the race just a few weeks ago, Vice President Kamala Harris alone has raised more than $540 million. Candidates for the House and the Senate have raised a combined $2.5 billion.

The takeaway here is not that there is too much money in politics (everyone has their own views on that). No, the 2024 race is teaching us that people will give generously to causes they believe in—and they don’t need a tax deduction to induce them to give.

As lawmakers look to renew or revise the 2017 tax cuts that expire next year, they should reconsider the need for a charitable tax deduction in the tax code.

This year’s political giving trends are not an anomaly. During the 2022 midterm elections, candidates at all levels spent a record $16.7 billion on their election campaigns, all of which was raised from........

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