December 5, 2012
Survey: Charitable Donations Would Plummet under 'Fiscal Cliff' Solution
Poll suggests nearly 2 in 3 oppose changes to charitable tax deduction.
According to new data from United Way Worldwide, nearly 8 in 10 Americans indicate that they would be forced to reconsider their giving if the tax deduction for charitable donations were eliminated.
In attempts to reach a federal budget deal, both Republican and Democrat lawmakers have raised the possibility of limiting the amount of income that taxpayers can claim as tax-deductible charitable giving. But doing so would negatively impact the organizations that receive those donations, according to the United Way survey.
The poll of 2,000 U.S. adults suggests that, without a tax deduction, more than 1 in 4 respondents would drastically cut their giving to nonprofit organizations by 50 percent or more. More than 1 in 3 would reduce their donations by at least 25 percent, United Way reported.
In addition, Associated Baptist Press reports that Charitable Giving Coalition representatives are on Capitol Hill this week to lobby Congress and ensure that a federal budget deal "does not eliminate or change the deductibility of charitable gifts."