Washington politicians are considering placing caps or making cuts to the 100-year-old tax benefit for those who give to charities, redirecting these dollars to the federal government.
Measures like this, at a time when people and families are still reeling from a global recession and communities are facing government cutbacks “is bad timing and bad logic” according to an editorial in this week’s U.S. News and World Report written by Brian Gallagher, President and CEO of United Way Worldwide and Father Larry Snyder, President of Catholic Charities USA.
As arguments in Washington wage over the proper response to what is being called a “fiscal cliff,” some politicians are looking at removing or reducing the charitable tax benefit as a method of generating additional income for government.
“Elected leaders may believe the charitable deduction is an easy mark without a large contingent of lobbyists” the editorial points out, adding that “data suggests that for every dollar a donor gets in tax relief, the public typically receives $3 of benefit. No other tax provision generates that kind of positive impact.”
If you want your voice to be heard in preserving the tax benefit for giving to charities, please send an e-message or printed letter to your elected officials in the Senate and House of Representatives here.
Related: National poll illustrates Americans understand the value of the charitable tax deduction (from United Way Worldwide)