Charitable Deduction Limit: Bad For Art Nonprofits? : NPR

Charitable Deduction Limit: Bad For Art Nonprofits? : NPR: "Now, in an effort to reduce the deficit, President Obama hopes to limit the charitable deduction for the top income bracket. That is, wealthy donors who itemize would not be able to deduct as much from their income to owe less in taxes. Charities — which are already hurting from the economic downturn — are worried this will discourage potential donors."