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Comment on the New Tax Reform Plan That Could Reduce Giving by Billions

AFP is calling on U.S. members to provide comments online about the new GOP Tax Reform Framework that could reduce giving by $13 billion every year.

Background

The GOP Tax Reform Framework, developed by the White House and key Republican Members of Congress, calls for the standard deduction to be doubled. That change would cut the number of taxpayers who itemize from 33 percent to just 5 percent—a loss of 30 million itemizers!

Why is this critical? Because itemizers account for 82 percent of all giving in the U.S.

Research by Independent Sector and the Lilly Family School of Philanthropy estimates that doubling the standard deduction would reduce giving by $13 billion annually. That figure represents a significant decrease—more than 6 percent of all individual giving—that would dramatically affect charitable program and services across the country.

AFP’s Response

To address this issue, AFP is calling for Congress to include the universal charitable deduction in the tax reform plan. A universal charitable deduction would allow all taxpayers, regardless of whether they itemize or not, to take a charitable deduction.

The same research above shows that adding a universal charitable deduction to the increased standard deduction results in overall giving increasing by $5 billion! The powerful effect of the universal charitable deduction is enough to overcome any loss in giving when the standard deduction is doubled.

What You Can Do

Go to the GOP Tax Reform Survey website and provide comments about a) what a loss in charitable giving would mean for your organization and b) the importance of adding the universal charitable deduction.

AFP has provided talking points here. Members should feel free to use whatever points they would like and can edit and/or personalize them as well.

Please contact the AFP Public Affairs Department at paffairs@afpnet.org if you have any questions, and thank you for participating in this important public policy initiative.



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