Over 30 nonprofit organizations representing a broad cross-section of the nation’s charitable sector have joined together in urging President Obama and congressional leadership to protect America’s strong tradition of generosity by preserving historic incentives for charitable giving in the tax code.
According to reports, the President has proposed capping all itemized deductions at 28% for certain taxpayers, and the Bipartisan Policy Center Debt Reduction Task Force has proposed eliminating the deduction altogether with non-refundable tax credit.
“[S]uch a change to the charitable deduction would devastate non-profits across America and the charitable work that generates enormous good will locally and globally,” remarked Rick Dunham, President and CEO of Dunham+Company, which counsels charitable organizations on the development of effective marketing and fundraising.
“The significance of the charitable work of American non-profits is one of the things that sets us apart as a nation. It is a reflection of the generous heart of America. And helping to fuel that generosity is the charitable tax deduction, which is why it is worth protecting,” he added in an op-ed that appeared this week on FoxNews.com.
On November 14, Dunham+Company and other members of the Charitable Giving Coalition sent letters to President Obama, House Speaker John Boehner, House Democratic Leader Nancy Pelosi, Senate Majority Leader Harry Reid, and Senate Republican Leader Mitch McConnell, warning them that “any cap or limitation on charitable deductions undermines charitable giving and would have long-lasting negative consequences.”
Among the organizations involved in the Coalition are the Evangelical Council for Financial Accountability, The Salvation Army, and the American Red Cross.
Also, as part of its efforts, the Charitable Giving Coalition is urging as many people as possible to phone or email the office of House Speaker Boehner to ensure the charitable tax deduction is protected.
By phone, supporters can call 202-225-0600 (and select option two).
By e-mail, they can go to www.speaker.gov/contact and let the Speaker know they are in favor of protecting the current charitable tax deduction because it is the only tax deduction that provides an incentive for people to give their money away for social good.
Click here to view a copy of the Coalition’s November 14 letter to President Obama.
Published: November 29, 2012