Analysts: Giving by Wealthy Would Decline Slightly Under Obama Budget Proposal

Obama said this would help equalize the tax break for those donating to charity. "When I give $100, I'd get the same amount of deduction as when some -- a bus driver, who's making $50,000 a year, or $40,000 a year, gives that same $100," Obama said.

But two independent analysis centers concluded that the administration's proposal could decrease giving by as much as $3.87 billion to the nonprofit sector, which already is struggling to raise funds during the economic recession. Americans donate about $300 billion a year, according to Giving USA, which conducts annual surveys.