Coalition urges lawmakers to protect deductions
Posted: 11/19/2012
WASHINGTON - A coalition that supports the charitable giving deduction is calling on the White House and lawmakers not to reduce or eliminate it.
The Charitable Giving Coalition includes a wide cross-section of nonprofits, religious groups and fundraisers. The coalition has written letters to President Barack Obama and congressional leaders as they grapple with tax reform and the so-called "fiscal-cliff."
The administration has proposed capping all itemized deductions at 28 percent for certain taxpayers. A bipartisan debt reduction panel has proposed eliminating the deduction and replacing it with a tax credit.
A study by Dallas-based fundraising firm Dunham and Company shows most Americans favor the charitable tax deduction and would donate less if it was eliminated.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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