Representatives from 140 nonprofit organizations gathered in Washington this week to lobby for the retention of the charitable deduction—and garnered support from a bipartisan letter written by two Senators.
Several possible reductions in the deduction have been proposed, including capping it at 28 percent, which charity administrators say would likely cost billions. But Republican Senator John Thune of South Dakota and Democrat Senator Ron Wyden of Oregon released a joint letter urging that the deduction be saved. Both are members of the Senate finance committee, to which the letter is addressed.
“The charitable deduction is unique,” they wrote. “It is the only provision that encourages taxpayers to give away a portion of their income for the benefit of others.”
The complete letter can be read at http://bit.ly/1h7sfqF.
Read more about the effort in the NonProfit Times at http://bit.ly/I94Vui.
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