CGC Urges Clinton, Trump to Preserve Charitable Giving Incentives
The Charitable Giving Coalition (CGC) urged Donald Trump and Hillary Clinton, the major party nominees for President of the United States, to support the full preservation of the charitable deduction in a letter the coalition sent to the candidates this week. Along with preserving the charitable deduction, the coalition pressed the candidates to support additional charitable giving incentives.
“Instead of considering proposals that would curtail charitable giving, we urge you to consider incentives that would increase charitable giving such as excluding charitable gifts from taxation, including the implementation of an above-the-line deduction. In an above-the-line scenario, contributions would be subtracted before arriving at adjusted gross income. This suggested change creates a charitable giving incentive for all taxpayers, not just those who itemize their deductions,” the CGC wrote.
The Charitable Giving Coalition is made up of a diverse group representing America’s charitable sector including public charities, more than 40 private and community foundations and their grantees, as well as nonprofit organizations and the associations and umbrella groups that serve their needs. Click the following links to read the full letter to Mr. Trump and Secretary Clinton.