House Tax Plan Would Limit Charitable Deduction

Feb 27, 2014   //   News  //  No Comments

By Alex Daniels

Nonprofit advocates slammed a plan offered Wednesday by the chief tax architect of the House that would sharply limit charity tax breaks for people at all income levels.

Under the plan, people would be allowed to deduct only the amount above 2 percent of income they give to charity. That is a contrast to President Obama’s repeated efforts to limit the value of the deduction only for people who are in the highest tax brackets—an idea charities have successfully fought throughout his administration.

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