March 24th, 2009
09:00 PM ET
6 years ago

Schneider: Obama's charity position could cause fight

President Obama supports lowering the tax rate at which the wealthiest individuals are able to deduct from their charitable donations.
President Obama supports lowering the tax rate at which the wealthiest individuals are able to deduct from their charitable donations.

(CNN) - President Obama's proposal on limiting tax deductions on charitable donations will not sit well with charitable organizations. Charities often raise most of their money from wealthy individuals. They say many wealthy donors could be discouraged from giving if their tax deductions are less.

He'll have a fight on his hands over this one.


Filed under: Bill Schneider
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