October 16, 2011
Nonprofit Officials Prepare for Capitol Hill Fight to Preserve Giving
Jon Bakija, an economist, say the “millionaires’ tax” would reduce giving.
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Jon Bakija, an economist, say the “millionaires’ tax” would reduce giving.
Washington
President Obama’s plan to limit the tax break wealthy people get for their itemized deductions, including charitable gifts, is dead—at least for now.
But nonprofit leaders who feared that a change in tax policy would hurt giving aren’t yet breathing a sigh of relief even though the president’s effort to attach the limits to a high-profile jobs bill has failed.
In fact, charity officials are bracing themselves for what could be a lengthy lobbying effort
