Americans slashed their charitable deductions by $54 billion after Trump’s tax overhaul

Americans slashed their charitable deductions by $54 billion after Trump’s tax overhaul

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“It’s a big drop in dollars, but those numbers don’t tell the whole story,” said Rick Cohen, spokesman for the National Council of Nonprofits. “That’s just the dollars donated that someone got to write off on their taxes. Just because someone isn’t itemizing anymore doesn’t mean they aren’t still giving.”

Cohen added, “Most of the people who are no longer itemizing are (hopefully) still giving, but studies show that they may not give as much.”

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