[Infographic] The Danger of Capping Deductions
December 11, 2012
Like deer in the headlights, lawmakers in Washington, D.C., have spent the last five weeks paralyzed by the approach of the so-called fiscal cliff. While the White House and Congress appear to be moving closer to a deal that would delay or avoid the worst effects of the cliff, the details of such a deal remain murky.
One thing that has surfaced repeatedly in negotiations between the two sides, however, is a cap on various tax deductions, including the deduction for charitable giving. As the infographic from the National Council of Nonprofits below suggests, such a cap would have an adverse impact on charitable donations -- and, by extension, local communities.
To learn more about the impact of a cap on deductions as part of a fiscal cliff deal, check out the council's new report, The Fiscal Cliff's Twin Threats Against the Work of Charities.