The League is highly engaged in advocacy in Washington, D.C. as the nonprofit community responds to proposals to change the deductibility of charitable giving. As we’ve reported to you, Congress has been debating a proposal by President Obama to cap the deductibility of gifts at 28%. While leaders on the Hill indicate that the President’s proposal is off the table for the time being, a wide range of possible changes to the deductibility of giving are still being considered as Congress debates budget priorities and broader tax reform.
Just this week, the Senate Finance Committee held a hearing addressing a broad array of tax reform proposals. In advance of the hearing, four representatives of orchestras traveled to Washington, D.C. to meet in key offices on the Hill to share personal stories of the value of charitable giving in support of orchestral activity: Richard Dare, CEO & Managing Director of the Brooklyn Philharmonic; David Gross, President of the West Virginia Symphony Orchestra; Bob Wagner, Principal Bassoonist for the New Jersey Symphony Orchestra; and, Cathy Weiskel, Executive Director of the Boston Youth Symphony Orchestras. During this week’s hearing, Ranking Senator Orin Hatch (R-UT) voiced his support for the unique public value of the nonprofit arts and urged his colleagues to resist changes to the tax deductibility of gifts.
Posted October 21, 2011