In 2011, the nation's biggest charities swung into action to oppose President Barack Obama using limits on tax deductions to help pay for a jobs bill. Warning that such a move would hurt charitable giving, they prevailed, and Democrats looked elsewhere.
A year later, deductions are again in the cross hairs as Washington hunts for a big deal to avert tax increases and spending cuts. After years of successfully fending off such efforts, nonprofits worry this time could be different.
"What we're up against now is a mega-fiscal issue," said Chris Hansen, president of the Cancer Action Network, the advocacy arm of the American Cancer Society. "You worry that they will miss some important facts as they desperately try to come up with something that they can compromise on."
Source: Wall Street Journal. Read full article. (link)