I have a problem- I always get goofy for loud mouth liberals- Schumer was my hometown representative and my first political crush - now I have one more reason to love Senator Chuck...lets just hope this one passes.

The New York Times
November 22, 2005
Senate Bill Lets Artists Claim Price for Gifts

By ROBIN POGREBIN
Living writers, musicians, artists and scholars who donate their work to a museum or other charitable cause would earn a tax deduction based on full fair market value under a bill just passed by the Senate.

Currently such work receives only a deduction based on the cost of materials unless it is donated posthumously by the estates.

The measure was approved as an amendment to a broader $59.6 billion tax relief bill passed by the Senate early Friday. It now goes to a House-Senate conference committee. The House version of the tax relief bill does not include the arts provision, but the senators who introduced the amendment - Charles E. Schumer, Democrat of New York, and Pete V. Domenici, a New Mexico Republican - said they were hopeful that the committee would support it.

Under the bill, artists could donate their work during their lifetimes at full market value provided that it is properly appraised and handed over at least 18 months after it is created.