Nonprofits oppose change in charitable deductions

For the fourth year in a row, President Obama is proposing lower tax
deductions for the wealthy on donations to churches and other nonprofit
organizations. And for the fourth year in a row, nonprofit groups say
the change would lead to a dramatic drop in charitable giving.

Under
the Obama proposal, the tax break for charitable donations would fall
from 35 percent to 28 percent for the top 2 percent of taxpayers, those
earning more than $250,000.

In real terms, that would mean a
wealthy taxpayer who donates $10,000 to a charity would be able to claim
only a $2,800 deduction on his taxes, rather than the current $3,500.