Nonprofit leaders gave mixed marks to the tax plan released recently by Donald Trump, a leading contender for the Republican presidential nomination.
While they praised Mr. Trump’s plan for keeping in place the deduction for charitable giving, they warned that aspects of his proposal would discourage gift giving by wealthy donors. Mr. Trump’s plan would offset losses in revenue from lower corporate and individual tax rates by eliminating “loopholes used by the very rich.”
In one move to raise revenue, Mr. Trump favors an expansion of the “Pease limitation,” which reduces itemized tax deductions — including the deduction for charitable giving — by 3 percent for high-income Americans. The provision affects married couples making more than $309,900 a year.
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