A bill to amend the Internal Revenue Code of 1954, to provide that charitable contributions in excess of certain amounts shall not be deductible for purposes of the income tax.

Limits the amount allowable to a taxpayer as a charitable contribution under the Internal Revenue Code to $10,000 plus three percent of the amount in excess of $10,000.

Provides that for a husband or wife who files a separate return, the amount shall be $20,000, in lieu of $10,000.

Provides that for a controlled group of corporations, the $10,000 amount shall be apportioned among the component members as the Secretary of the Treasury prescribes.

Imposes on amounts set aside for charitable purposes in estates and trusts the limitation of a $10,000 deduction, plus three percent of the amount in excess of $10,000. Provides that if the Secretary determines that the purpose of the creation of two or more trusts by the same grantor for the same beneficiary or class of beneficiaries is to avoid the limitations imposed by this Act, he shall treat such trusts as a single trust for the purposes of applying these limitations. (Amends 26 U.S.C. 170(b))