The U.S. Senate approved legislation to extend through 2010 a tax break to encourage older people to donate money from their individual retirement accounts to charity. The measure allows people age 70-1/2 and older to give up to $100,000 a year from their IRAs without having to pay taxes on the distribution. The legislation would also ease rules governing employer contributions to defined-benefit pension plans, a move that would offer relief to charities whose plans suffered investment losses during the recession.

With the economic downturn, several U.S. companies sparked changes in giving priorities as some pared back philanthropy while others placed more importance on basic needs such as fighting hunger and homelessness and others focusing more in their local communities. 10 companies whose philanthropic arms are ranked by the Foundation Center among the top U.S. foundations, four (Coca-Cola Co, Wal-Mart Stores Inc, MetLife Inc and ExxonMobil) said the dollar value of their giving increased in 2009, two said it remained steady, and four said it dropped. Additionally, all 10 companies reported that their giving would likely remain steady or be a slightly higher in 2010.