I have been closely following various proposals impacting nonprofits since the late 1990s. So, based on lots of experience, I can tell you right now that Presidential budget proposals in particular give me very little reason for concern (President Obama’s even more so). These budgets proposals go nowhere.
Yet, it is disappointing again to report that the Obama administration has stuck in again (for the 5th year in a row!) a proposal to cap income tax deductions at 28%. Here is my commentary from two years ago on this ridiculous idea. Why in the world do they keep sticking it in? What is their obsession with this sneaky, back door tax on charitable givers?