POLL: Should charitable tax donation deductions be limited?

Government leaders are considering proposals that would limit charitable tax donation deductions.

One proposal would set an annual dollar cap (between $17,000 and $50,000), leaving less room for donors to deduct their charitable contributions.  

Another proposal would limit itemized deductions, including gifts to charity, to 28 percent for taxpayers in the top tax bracket. Nonprofit advocates say the proposal could reduce donations by  $9-billion annually.

Government officials estimate that the limit could bring in $321-billion in additional revenue through 2021, according to the Tax Policy Center.

But not everyone agrees this is the right move. The Hill's Congress blog reports, “Virtually every state has concluded that the support that charitable nonprofits provide to their communities, made possible by charitable donations, is too important to risk limiting the tax incentives.”

Where do you stand on this issue?

Check Also

From Christchurch to Emanuel AME, We Must Recognize the Patterns of White Supremacy

Four years ago, on March 15, 2019, a white supremacist opened fire on two mosques in Christchurch, New Zealand, leaving 51 dead and 40 others injured. While this was shocking in terms of the number of deaths and injuries, such attacks have become alarmingly common.

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x