Charitable Deduction | Federal | ACR in the News
Jan 27, 2012
‘Obama Blueprint May Signal Retreat From Limit on Charitable Deductions’
Bloomberg BNA
This morning BNA reported that the Administration may be stepping back from previous proposals to cap charitable deductions at 28 percent.
Here’s an excerpt from the article:
“The past three budgets the president has submitted have included a limit to the charitable deduction in every single one of them, through limiting itemized deductions,” said Sandra Swirski, director of Alliance for Charitable Reform. “He’s also raised limiting the charitable deduction as a pay-for in at least two of his bills, one on health care, the other a jobs bill. So it keeps coming up.”
However, Swirski said she is now “cautiously optimistic” that when the president’s budget is revealed Feb. 13, Obama’s “stepping away” from the proposal will be clear.
She also pointed to another part of the blueprint in which the White House excluded the charitable deduction from a list of tax subsidies that should not be afforded to those making more than $1 million. The subsidies included on that list were housing, health care, retirement, and child care—but there was no mention of the charitable deduction.”