Today, the Orthodox Union expressed its concern regarding the impact that House Ways and Means Committee Chairman Dave Camp’s recently unveiled tax reform plan could have on the level of charitable giving in America.
Chairman Camp’s proposal hurts the charitable community in two distinct ways. Under the proposal, individuals would be allowed to deduct a maximum of only two percent of their annual gross income for their charitable donations, a severe cut from the 50 percent cap currently in place. In addition to this strict cap, other provisions in the plan would significantly limit the number of people eligible to take charitable deductions by stripping many incentives for individuals to itemize their taxes-a prerequisite for claiming charitable deductions.
Nathan Diament, Director of Public Policy for the Orthodox Union, expressed his concern for Chairman Camp’s plan for tax reform.
“Chairman Camp’s proposal is clearly at odds with America’s strong tradition of giving. Changes in his tax reform package could prove devastating to the vast majority of Jewish organizations and charities who rely on the charitable deduction for their fundraising efforts. We will work with our allies in Congress and across the nonprofit sector to prevent this proposal from being enacted.”