Jan 1, 2012
Proposals to eliminate or limit the deduction for charitable gifts.
28% Cap: President Obama has proposed limiting deductions (including the charitable deduction) for high-income earners from 35% to 28% in several proposals over the past few years.
- Deficit reduction recommendations
- 2011 Jobs Plan —ACR coverage
Dollar Cap: During the 2012 campaign, presidential candidate Governor Mitt Romney suggested he would support a cap on deductions, including the charitable deduction, at between $17,000-$25,000 for a middle-class family and even lower for higher-income earners.