Congressman Roy Blunt has sent a letter to Speaker Nancy Pelosi urging her to protect the current tax deduction level for charities."Under President Obama's proposal, millions of American taxpayers would be able to deduct only a portion of their charitable contributions," Blunt wrote in his letter. "Families with household income taxes that are already scheduled to increase under Obama's plan would now also have their charitable giving deductions limited to 28 percent of the charitable contribution amounts. This is a tax increase and it's being levied at a time when contributions are sorely needed but at an all time low," he went on.
Read the entire letter HERE.
The President's plan has charities worried, but Obama's budget director says that about 75 percent of overall contributions would not even be affected by the proposed income tax change .
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