As political leaders in Washington, D.C. focus on deficit reduction and tax reform, there are proposed harmful changes to the charitable tax deduction. Doing away with the charitable deduction at a time when people are still reeling from the recession and facing the consequences of government cutbacks is bad timing and bad logic.
The Charitable Giving Coalition, a group of more than 60 nonprofits, foundations and other charitable organizations, hopes to pierce the "inside-the-beltway" bubble with a dose of reality about the profound economic and social impact of America’s nonprofit sector. On November 20, hundreds of frontline nonprofit and charitable sector leaders will gather in Washington, D.C., for "Protect Giving Day" to warn members of Congress about how limiting the charitable deduction would be devastating to the nonprofits and communities that depend on it. By signing and sharing our petition, you will be supporting a 100-year-old tradition of giving and a vital nonprofit support system that provides 10 percent of American jobs and serves millions of people every day. Petition signatures will be delivered to members of Congress on Protect Giving Day to demonstrate the human impact of the charitable deduction. We encourage you to share in the comments how nonprofits serve your communities.
As you work to address the budget deficit and reform our tax system, we strongly urge you to preserve the charitable tax deduction in its current form. Harmful changes to this century-old American tradition would set off a cascade of consequences undermining our economy, hitting hardest those who need the most help, shifting more of the responsibility to government to provide vital services and putting at risk billions in private donations that support diverse, worthy causes.
The charitable deduction has made a significant difference in the lives of the most vulnerable and advanced innovative solutions to some of our most pressing challenges. Nonprofits rely significantly – and in many cases entirely – on private donations, particularly now as government funding declines and the demand for support services increases.
Our economy requires a strong philanthropic sector, whose role as a safety net and innovator is more important than ever for a faster, sustainable recovery. Nonprofit organizations supported by charitable giving generate more than $1 trillion every year in the form of jobs and services. One in 10 Americans works for a nonprofit organization, accounting for approximately 13.7 million jobs receiving roughly 9 percent of wages paid in the U.S.
The nonprofit sector represents a vital infrastructure that we must not take for granted. We support the charitable deduction because it works. Surely there are better ways to reform America’s tax code than tampering with the charitable tax deduction. We must work together to find them.
Charitable Giving Coalition started this petition with a single signature, and now has 823 supporters. Start a petition today to change something you care about.