Deficit Reduction

Federal Legislation

New Poll: Americans Oppose Eliminating the Charitable Deduction

New Poll: Americans Oppose Eliminating the Charitable Deduction

As Congress and the president tackle deficit reduction, Americans show solid opposition to eliminating common tax deductions including the charitable deduction. A new Gallup poll reveals that nearly three-quarters of Americans don’t want to see the charitable deduction eliminated even if the goal is to lower overall income tax.

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Federal Legislation

President Obama Releases Deficit-Reduction Plan

Under his plan the charitable deduction among other tax deductions may be limted.

President Obama Releases Deficit-Reduction Plan

Yesterday (April 13th), the President delivered a speech on his plan for deficit reduction (following close behind the deficit reduction plan of Congressman Paul Ryan, R-WI).  There are two things to note: (1) the President specifically identifies for elimination tax deductions that mostly benefit the wealthy, and (2) the quick timeline for action.

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