The Association of Healthcare Philanthropy says it “strongly opposes” President Barack Obama’s proposal to limit charitable deductions for the wealthiest Americans.
The changes could curtail giving by individuals, compounding fundraising pressure health-care nonprofits in the U.S. already are feeling, the group says.
Obama has proposed reducing to 28 percent form 35 percent the charitable tax deduction rate for people making more than $250,000 a year.
“The steep decline in personal wealth, especially if coupled with proposed limitations on tax deductions, make the outlook for philanthropy over the next 18-24 months bleak,” the association says in a statement.
While donations to health-care groups totaled $8.35 billion last year, the growth rate of giving has been slowing in recent years, the association says, and the number of contributors is flat.
“For philanthropy to continue to fulfill its role in the American health-care system, this is not the time to drastically change standards for fundraising,” the association says.