By Haviv Rettig Gur
NEW YORK – The fallout from the fiscal chaos gripping Washington in recent weeks – indeed, in recent years – will not pass over the American Jewish and nonprofit communities, according to key lobbyists for the nonprofit sector.
Washington’s budget battles pose several potentially severe risks for nonprofits that depend on charitable dollars. In particular, charities are concerned about the automatic budget cuts known as “sequestration” and possible changes to the federal charitable tax deduction that could significantly reduce the tax incentives for charitable giving, especially for the wealthiest donors.