Charities Would Lose $10-Billion Under Tax Cap, White House Says - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Charities Would Lose $10-Billion Under Tax Cap, White House Says - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Charities Would Lose $10-Billion Under Tax Cap, White House Says

December 3, 2012, 9:25 am

By Doug Donovan

President Obama won’ t support an annual limit on deductions, including those for charitable giving, as the White House issued an estimate that such a break would cost charities at least $10-billion a year.

That will come as a relief to nonprofit leaders who say such limits are essentially the same as ending charitable deductions.