Charitable Deductions under fire

In an effort to get a grip on the soaring national debt, lawmakers are once again taking a close look at the charitable deduction, putting its future in doubt, the Chronicle of Philanthropy reports.

Last month, two sets of recommendations — one submitted by the co-chairs of a deficit commission appointed by President Obama and the other by a committee that includes former government officials — suggested either limiting or ending charitable deductions as part of a package of spending cuts and tax increases designed to slow and eventually reverse the spiraling federal debt.

Learn more at the Philanthropy News Digest.

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