Add fund raisers to the long list of opponents to President Obama’s proposal to limit the charitable deduction for wealthy donors who make at least $200,000.
Two-thirds of fund raisers in a new poll said the proposal is bad policy. Fifty-six percent said the plan would hurt their organizations, and 35 percent said their charities would be “hurt a lot.”
Under the Obama proposal, starting in 2011, individuals earning more than $200,000 and couples earning more than $250,000 could deduct 28 cents of every dollar they donate to charity, down from 33 or 35 cents they can deduct now, depending on their tax bracket.
The money saved with the measure, an estimated $318-billion in 10 years, would help pay for changes in the health-care system, the Obama administration has said.
The poll, conducted by the American Association of Fundraising Professionals, surveyed 813 fund raisers who responded to questions posted on the association’s Web site over a five-week period ending November 30.
They appear to side with other charity leaders who say that, particularly when the bad economy has caused donations to many nonprofit groups to decline sharply, reducing the charitable deduction would only further dampen giving, just when charities need it most.
But while the majority of fund raisers in the poll opposed the proposal, 14 percent said they agreed with the plan. Another 18 percent said they were undecided and needed more information.