Washington, D.C. —
Senator John Thune today introduced a "Sense of the Senate" resolution expressing support for the full preservation of the federal income tax deduction for charitable giving. President Obama's budget framework proposes reducing the deduction, which would result in less charitable giving nationwide.
"Congress has long provided incentives through the tax code to promote private charitable giving," said Thune. "Charities provide invaluable public services to society's most vulnerable citizens during difficult economic times such as these, including services beyond what any government program could provide.
"Even in difficult economic times, Americans give generously to those who are less fortunate than themselves. However, the reduction of the charitable tax deduction proposed by the President would reduce charitable donations by as much as $8 to $16 billion annually. At a time when many are struggling, the White House should not stand in the way of those who want to help."
When questioned in a primetime news conference last night on the subject of reducing the tax deduction for charitable giving, President Obama defended the proposal. The President's proposal has drawn wide criticism from charitable organizations and nonprofits.
Senator Thune introduced the resolution as an amendment to the National Service Bill (H.R. 1388) that is currently being debated by the Senate. It expresses the "Sense of the Senate" that the full tax deduction for charitable giving should be preserved and that Congress should look for additional ways to encourage charitable giving rather than discouraging it.
"Congress has long provided incentives through the tax code to promote private charitable giving," said Thune. "Charities provide invaluable public services to society's most vulnerable citizens during difficult economic times such as these, including services beyond what any government program could provide.
"Even in difficult economic times, Americans give generously to those who are less fortunate than themselves. However, the reduction of the charitable tax deduction proposed by the President would reduce charitable donations by as much as $8 to $16 billion annually. At a time when many are struggling, the White House should not stand in the way of those who want to help."
When questioned in a primetime news conference last night on the subject of reducing the tax deduction for charitable giving, President Obama defended the proposal. The President's proposal has drawn wide criticism from charitable organizations and nonprofits.
Senator Thune introduced the resolution as an amendment to the National Service Bill (H.R. 1388) that is currently being debated by the Senate. It expresses the "Sense of the Senate" that the full tax deduction for charitable giving should be preserved and that Congress should look for additional ways to encourage charitable giving rather than discouraging it.