Obama’s Tax Proposal Will Cost Charities Billions, Says Minority Whip
(CNSNews.com) - President Barack Obama’s proposal to reduce the charitable deduction for taxpayers earning more than $250,000 annually will cost non-profit organizations billions of dollars and “defies logic,” House Minority Whip Eric Cantor (R-Va.) told CNSNews.com on Wednesday. Some Democratic lawmakers who spoke with CNSNews.com said they also oppose using the tax code to discourage charitable giving.