INCREASE IN STANDARD MILEAGE RATE EXPENSE DEDUCTION FOR CHARITABLE USE OF PASSENGER AUTOMOBILE.

SEC. 973. INCREASE IN STANDARD MILEAGE RATE EXPENSE DEDUCTION FOR CHARITABLE USE OF PASSENGER AUTOMOBILE. (a) In General.—Section 170(i) (relating to standard mileage rate for use of passenger automobile) is amended to read as follows: “(i) Standard Mileage Rate for Use of Passenger Automobile.—For purposes of computing the deduction under this section for use or a passenger automobile, the standard mileage rate shall be 14 cents per mile”. (b) Effective Date.—The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 1997.