9/30/2015 CGC Views Trump Tax Plan as a Mixed Bag
WASHINGTON, D.C. — In response to presidential candidate Donald Trump’s tax plan, which would preserve the charitable deduction but increase the Pease Limitation, the Charitable Giving Coalition (CGC) released the following statement:
The Charitable Giving Coalition appreciates Donald Trump’s decision to preserve the charitable deduction in his tax reform plan. However, increasing the impact of the Pease Limitation on itemized deductions, including the charitable deduction, for certain taxpayers could have negative impacts on charitable giving. As charities struggle to raise additional funds to meet increased demands for their services, it is imperative that we enact tax policy that does not limit charitable giving.
Because the charitable deduction is unique and promotes giving to benefit humanity, we thank Mr. Trump for preserving a deduction for charitable contributions but urge him to reconsider his proposal to steepen the Pease Limitation on charitable giving.