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Obama renews effort to limit charitable deduction

from The Chronicle of Higher Education

President Barack Obama's budget for the 2014 fiscal year is likely to infuriate many charitable organizations with its renewed call to limit the value of deductions for charitable contributions. Nonprofit advocates, who have helped defeat Obama's previous attempts to limit tax savings on deductions — including those for charitable gifts — to 28 percent for the wealthiest taxpayers, were already gearing up to oppose the proposal. more


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