Foundation Group Opposes Charitable-Deduction Cap and Supports Estate Tax - Philanthropy.com

Foundation Group Opposes Charitable-Deduction Cap and Supports Estate Tax - Philanthropy.com: "Foundation Group Opposes Charitable-Deduction Cap and Supports Estate Tax

The Council on Foundations has decided to oppose President Obama’s proposal to limit the tax break wealthy Americans get for charitable deductions, fearing that it would dampen giving, Steve Gunderson, the group’s president, said today.

The council, which represents more than 2,000 grant makers, also for the first time has decided to weigh in on the estate tax, formally backing President Obama’s plan to keep it at current levels, Mr. Gunderson said in an interview."