WASHINGTON, D.C.— In response to President Biden’s Fiscal Year 2022 budget proposal released today, the Charitable Giving Coalition (CGC) issued the following statement:
The Charitable Giving Coalition is encouraged to see President Biden’s Fiscal Year 2022 budget request released today does not include a cap on the charitable deduction.
The charitable deduction is unique among deductions in that it encourages individuals to give away a portion of their income with no tangible benefit in return. It rewards a selfless act, and any limit or cap to the deduction would have devastating effects on the nonprofit sector and the beneficiaries it serves.
As our nation’s faith-based and charitable organizations continue to provide vital services to families, workers, and communities, especially in response to this unprecedented health crisis, it is imperative we continue to encourage charitable giving.
We look forward to working with the administration and Congress to strengthen the charitable sector by advancing policies to increase charitable giving, such as expanding and extending the temporary universal charitable deduction.
The Charitable Giving Coalition
Representing private and community foundations, their grantees and independent charities, the Charitable Giving Coalition’s members include United Way Worldwide, the Salvation Army, Catholic Charities USA, the American Council on Education, Jewish Federations of North America, the American Institute for Cancer Research, the Association of Fundraising Professionals, Independent Sector, the Council on Foundations, and The Philanthropy Roundtable, among others. Formed in 2009, the coalition is dedicated to preserving the charitable giving incentive that ensures that our nation’s charities receive the funds necessary to fulfill their essential philanthropic missions. The coalition provides a unique and unified voice on Capitol Hill on issues affecting the charitable deduction, a voice composed of both direct lobbying and robust grassroots advocacy. www.charitablegivingcoalition.org, @CGC_DC