Latest / Inflation and Your Money with Fexingo: Protecting Purchasing Power and Beating Inflation
Inflation Is Quietly Eating Your Charity Mileage Deduction
Episode 132: Lucas and Luna look at a tax break millions of volunteers rely on—the charitable mileage deduction—and how inflation has quietly eroded its real value. The standard rate for driving your own car for charity hasn't budged from 14 cents per mile since 1997, while the IRS business mileage rate has been adjusted upward multiple times. Using the latest CPI data (332.6 as of June 2026), we calculate that the charity deduction has lost roughly 40% of its purchasing power. Lucas explains why Congress hasn't indexed it, Luna proposes a simple reform, and they discuss what…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.