The Jewish Federations of North America has welcomed much of President Obama’s jobs initiative, but opposes cutting the charitable deduction tax rate from 35 to 28 percent.
Erev Yom Kippur William Daroff, its Washington director, emails to say that JFNA won this round, and all but dares the Obama administration to bring it on:
I can confirm from my discussions on the Hill and with the Administration, that Senate Democrats are no longer considering reducing the tax deductibility of charitable contributions to fund the Jobs Bill.
This week’s defeat of this onerous proposal is due, in no small part, to the activism of Jewish Federation and communal leaders who expressed their opposition to Senators, Members of Congress, and the Administration.
The Jewish Federations continue to be concerned about the Administration’s focus on placing a stumbling block in front of the ability of charities to raise funds, at a time when we are serving as a much-needed safety net for the vulnerable who are suffering during the economic downturn.
While we are hopeful that this fourth defeat of cutting incentives for charitable contributions will be the end of this flawed proposal, we anticipate seeing it again during the Super Committee process.
Will continue to fight it — and continue to defeat it.