Camp's proposed deduction floor troubles charities

Camp's proposed deduction floor troubles charities

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But some observers predict that the impact on the deduction and on charitable giving would be significant. David L. Thompson of the National Council of Nonprofits cited a Congressional Budget Office study that predicted charitable donations would decrease under a 2 percent floor. He also challenged the reality of Ways and Means' estimate of $2.2 billion more in charitable giving, calling it a guess. 

Charities depend on charitable giving to carry out the work they do, which is why the deduction should not be tweaked or played with, Thompson said. Limiting the tax break, he said, is "a bullet point on a list of issues in Washington; in the real world, it's scaring donors, it's changing the relationship between the community of nonprofits and government." 

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Tax Analysts
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