Nonprofits Spurred to Action as They See Fiscal Cliff Threatening Tax Incentive for Charitable Donations

The National Council of Nonprofits cites projections that Obama’s proposal could reduce charitable giving to nonprofits by as much as $7 billion a year. Economist Martin Feldstein has written that, on average, a 10 percent cut in the cost of making a donation raises a person’s charitable giving by about 10 percent.