Charitable Giving Coalition Press Release: The Charitable Deduction - It's Not About the Donor
WASHINGTON, D.C. – Millions of America’s most vulnerable are the true beneficiaries of the charitable tax deduction, the Charitable Giving Coalition said today. Any limits on this 100-year old tax incentive would most hurt the poor and the nonprofit sector, not the donors who give. The Coalition is reminding lawmakers in Washington, D.C. of that fact as they consider comprehensive tax reform proposals.
- According to a recent report released by the Center for Effective Government, the president’s proposal would reduce giving by up to $9.1 billion annually.
Michigan is already seeing how changes in tax policy can hurt charitable giving and vital nonprofit services. Earlier this year, the state enacted a set of new tax laws, including the removal of a tax credit for charitable contributions. Donations to many nonprofits are down significantly. According to the Council of Michigan Foundations, donations are down 28 percent overall for community foundations across the state and the decline is expected to be worse in the wake of the new law.
Representing private and community foundations, their grantees and independent charities, the Charitable Giving Coalition’s members include United Way Worldwide, the Salvation Army, Catholic Charities USA, the American Institute for Cancer Research, the Association of Fundraising Professionals, Independent Sector, the Council on Foundations, The Philanthropy Roundtable, among others. Formed in 2009, the coalition is a broad cross-section of nonprofit organizations across the country, including both the nonprofit organizations themselves and the associations and umbrella groups that serve their needs. The coalition is dedicated to preserving the charitable giving incentive that ensures that our nation's charities receive the funds necessary to fulfill their essential philanthropic missions. The coalition provides a unique andunified voice on Capitol Hill on issues affecting the charitable deduction, a voice composed of both direct lobbying and robust grassroots advocacy. www.protectgiving.org
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