The news was met with joy from nonprofit leaders, including Independent Sector (IS) president and CEO Diana Aviv. She released the following statement to supporters this morning:
“Our assiduous efforts to share with lawmakers concerns about a cap, combined with your outreach to members of Congress to explain why tax incentives for charitable giving are critical to nonprofits and the people in our your community, made a real difference. In fact, many lawmakers on both sides of the aisle have indicated that they do not support a cap on charitable contributions.”Despite its removal from the Senate bill, capping charitable reduction still remains a part of the president's recommendations to the Super Committee, which is tasked with finding at least $1.2 trillion in deficit reductions by Nov. 23. Nonprofit executives like Aviv remain focused on getting the administration to take it off the table completely. Stay tuned to The NonProfit Times for any further updates on this subject.