Obama Plan Would Reduce Charitable Deduction for Some Wealthy Donors

Feb. 26, 2009, Chronicle of Philanthropy — President Obama today proposed to cap the rate that high-income taxpayers can use to claim charitable deductions as part of a plan to finance changes to the country’s health-care system.

In a document outlining his 2010 budget plans, the president proposes to limit the tax rate for itemized deductions at 28 percent for families making more than $250,000.