News / Article

Tax reform could reduce charitable giving by up to $13 billion per year

Source: cnbc.com - May 22, 2017

The charitable tax deduction has been a part of the U.S. tax code for a century. During last year's U.S. presidential campaign, then-candidate and now President Donald Trump proposed capping the deduction for wealthy taxpayers, but backed off that idea in his latest tax plan.

Yet tax reform could reduce donations even if capping charitable deductions isn't part of current proposals from the White House and Republican lawmakers.

Category: General Business