Tax Foundation Case Study

The Tax Foundation’s report on the economic impact of eliminating the charitable deduction reinforces the benefits of the charitable deduction to our communities.

According to the report, eliminating the charitable deduction would:
• Increase tax revenues by up to $39 billion;
• Reduce GDP by $40 billion; 
• Reduce employment by 131,000 full-time workers; and
• Reduce hourly wages by 0.2 percent.