> Skip to content
FEATURED:
  • Philanthropy 50
  • Nonprofits and the Trump Agenda
  • Impact Stories Hub
Sign In
  • Latest
  • Commons
  • Advice
  • Opinion
  • Webinars
  • Online Events
  • Data
  • Grants
  • Magazine
  • Store
    • Featured Products
    • Data
    • Reports
    • Collections
    • Back Issues
    • Webinars
    • Featured Products
    • Data
    • Reports
    • Collections
    • Back Issues
    • Webinars
  • Jobs
    • Find a Job
    • Post a Job
    • Career Advice
    • Find a Job
    • Post a Job
    • Career Advice
Sign In
  • Latest
  • Commons
  • Advice
  • Opinion
  • Webinars
  • Online Events
  • Data
  • Grants
  • Magazine
  • Store
    • Featured Products
    • Data
    • Reports
    • Collections
    • Back Issues
    • Webinars
    • Featured Products
    • Data
    • Reports
    • Collections
    • Back Issues
    • Webinars
  • Jobs
    • Find a Job
    • Post a Job
    • Career Advice
    • Find a Job
    • Post a Job
    • Career Advice
  • Latest
  • Commons
  • Advice
  • Opinion
  • Webinars
  • Online Events
  • Data
  • Grants
  • Magazine
  • Store
    • Featured Products
    • Data
    • Reports
    • Collections
    • Back Issues
    • Webinars
    • Featured Products
    • Data
    • Reports
    • Collections
    • Back Issues
    • Webinars
  • Jobs
    • Find a Job
    • Post a Job
    • Career Advice
    • Find a Job
    • Post a Job
    • Career Advice
Sign In
ADVERTISEMENT
News
  • Twitter
  • LinkedIn
  • Show more sharing options
Share
  • Twitter
  • LinkedIn
  • Email
  • Facebook
  • Copy Link URLCopied!
  • Print

Biden Endorses Capping Income-Tax Deductions at 28%

By  Rebecca Koenig
October 21, 2015
Joe Biden says the cap would be a good way to pay for programs that help the middle class.
Win McNamee/Getty Images
Joe Biden says the cap would be a good way to pay for programs that help the middle class.

Joe Biden isn’t running for president. But in a speech Wednesday in which he announced his decision to forgo the 2016 campaign trail, he offered policy positions that included capping income tax deductions at 28 percent.

The vice president proposed the measure as a way to pay for programs to boost the middle class, such as providing 16 years of free public education for all children and increasing the child-care tax credit.

“We can pay for all of this with one simple step: by limiting the deductions in the tax code to 28 percent of income,” Mr. Biden said from the White House Rose Garden, flanked by his wife, Jill Biden, and President Barack Obama. “Wealthy folks will end up paying a little bit more, but it’s my guess, and I mean this sincerely, it’s my guess they’ll be happy to build a stronger economy and a better-educated America.”

We're sorry. Something went wrong.

We are unable to fully display the content of this page.

The most likely cause of this is a content blocker on your computer or network.

Please allow access to our site, and then refresh this page. You may then be asked to log in, create an account if you don't already have one, or subscribe.

If you continue to experience issues, please contact us at 571-540-8070 or cophelp@philanthropy.com

Joe Biden isn’t running for president. But in a speech Wednesday in which he announced his decision to forgo the 2016 campaign trail, he offered policy positions that included capping income tax deductions at 28 percent.

The vice president proposed the measure as a way to pay for programs to boost the middle class, such as providing 16 years of free public education for all children and increasing the child-care tax credit.

“We can pay for all of this with one simple step: by limiting the deductions in the tax code to 28 percent of income,” Mr. Biden said from the White House Rose Garden, flanked by his wife, Jill Biden, and President Barack Obama. “Wealthy folks will end up paying a little bit more, but it’s my guess, and I mean this sincerely, it’s my guess they’ll be happy to build a stronger economy and a better-educated America.”

The budget President Obama proposed earlier this year called for limiting the value of itemized deductions, including for charitable gifts, to 28 percent for individuals who earn more than $200,000 and for couples who earn more than $250,000. Nonprofits criticized that proposal, saying that it would discourage people from donating to charities.

ADVERTISEMENT

We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
ADVERTISEMENT
ADVERTISEMENT
SPONSORED, GEORGE MASON UNIVERSITY
  • Explore
    • Latest Articles
    • Get Newsletters
    • Advice
    • Webinars
    • Data & Research
    • Podcasts
    • Magazine
    • Chronicle Store
    • Find a Job
    • Impact Stories
    Explore
    • Latest Articles
    • Get Newsletters
    • Advice
    • Webinars
    • Data & Research
    • Podcasts
    • Magazine
    • Chronicle Store
    • Find a Job
    • Impact Stories
  • The Chronicle
    • About Us
    • Our Mission and Values
    • Work at the Chronicle
    • User Agreement
    • Privacy Policy
    • California Privacy Policy
    • Gift-Acceptance Policy
    • Gifts and Grants Received
    • Site Map
    • DEI Commitment Statement
    • Chronicle Fellowships
    • Pressroom
    The Chronicle
    • About Us
    • Our Mission and Values
    • Work at the Chronicle
    • User Agreement
    • Privacy Policy
    • California Privacy Policy
    • Gift-Acceptance Policy
    • Gifts and Grants Received
    • Site Map
    • DEI Commitment Statement
    • Chronicle Fellowships
    • Pressroom
  • Customer Assistance
    • Contact Us
    • Advertise With Us
    • Post a Job
    • Reprints & Permissions
    • Do Not Sell My Personal Information
    • Advertising Terms and Conditions
    Customer Assistance
    • Contact Us
    • Advertise With Us
    • Post a Job
    • Reprints & Permissions
    • Do Not Sell My Personal Information
    • Advertising Terms and Conditions
  • Subscribe
    • Individual Subscriptions
    • Site License Subscriptions
    • Subscription & Account FAQ
    • Manage Newsletters
    • Manage Your Account
    Subscribe
    • Individual Subscriptions
    • Site License Subscriptions
    • Subscription & Account FAQ
    • Manage Newsletters
    • Manage Your Account
1255 23rd Street, N.W. Washington, D.C. 20037
© 2025 The Chronicle of Philanthropy
  • twitter
  • instagram
  • youtube
  • facebook
  • linkedin