Senate throws out Obama’s proposal to limit tax deductions for wealthy

On 2 April the Senate unanimously rejected the Obama administration’s proposal to limit the value of deductions for charitable gifts. This was included in the budget recently presented to Congress and had created consternation in philanthropic circles. The proposal is that taxpayers earning more than $250,000 will have their ability to deduct contributions to charities reduced from 35 to 28 per cent.

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