February 27, 2009

Obama Plan Would Reduce the Value of Charitable Deductions for Some Wealthy Donors

By

Washington

By SUZANNE PERRY

President Obama proposed on Thursday to cap the rate at which high-income taxpayers can reduce their tax bill by claiming charitable deductions, as part of a plan to finance changes in the country’s health-care system. If enacted, the shift could sharply discourage giving to colleges and other charities, some experts said.

In a document outlining his 2010 budget

Print Subscription

Digital Subscription

Already have an account? Log In Now.