GOP tax bill: Here's what people are saying

GOP tax bill: Here's what people are saying

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It will gut charitable giving

The tax bill roughly doubles the standard deduction. Taxpayers can only claim deductions for their charitable donations if they itemize. Nonprofits argue the higher standard deduction will abolish a key giving incentive.

National Council of Nonprofits: "The deal ... will prove disastrous to the work of charitable nonprofits in communities across America. ... If enacted, the bill would, among other things: damage charitable giving by $13 billion or more annually; destroy more than 220,000 nonprofit jobs; and impair the ability of nonprofits to address community needs. ... Simplifying the tax code could have been a noble exercise, but this bill would do much more harm than good." --National Council of Nonprofits President and CEO Tim Delaney

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CNNMoney
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