I received another call from a reporter yesterday about whether or not Congress is going to change the charitable deduction.
We’ve heard this before but this time the threat is very real. In previous go-rounds the proposal was attached to polarizing legislation that wasn’t likely to pass—first a healthcare reform package and then an ambiguous deficit reduction plan. This year, the cap has been applied to legislation regarding the Alternative Minimum Tax (AMT). Fixing the AMT is a very popular idea in Congress, so it’s a potential runner.
The President continues to mention his support for this proposal – very publicly. Plus, there are two independent bodies that recently have suggested changes to the deduction as well: The Debt Reduction Task Force of the Bipartisan Policy Center and the National Commission on Fiscal Responsibility and Reform.
It’s clear the deduction is in play. We’re working to educate Congress about the true impact of what they’re proposing—painting a picture of what it would mean to communities around the country and what tax dollars would have to be applied to pick up the deficit when charities cannot deliver. I’d like to hear what you have to share about the impact on projects close to you.
Take ten minutes out of your day, contact your Members of Congress and tell them to support the charitable deduction. Congress needs to hear from you because this is not a hypothetical argument. This is a battle we cannot afford to lose.