An article published in The Chronicle of Philanthropy suggests that the budget debate in Washington, DC is leading to proposals that would make the cost of charitable donations to nonprofits more expensive. In an effort to find new sources of tax revenue from individuals who make charitable contributions, the latest budget proposal submitted by President Obama imposes an additional tax, or reduces amounts that can be deducted, from gifts. The result, speculates the Chronicle, could be a negative impact on the amount of giving that supports charities.
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