President Obama defends his proposal to cut the tax deductions that wealthy Americans can claim for their charitable donations by arguing that the shift would not have an adverse effect on giving, but two independent analyses concluded that the proposal could result in a drop of as much as $3.87 billion for the already reeling nonprofit sector.
Debbie Stabenow
A handful of senators introduced a tax-policy change Tuesday that they say would encourage charitable foundations to increase their giving.
Three senators introduced legislation Tuesday intended to encourage foundations to give away more of their money.
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