Bloomberg Troubled by Charitable Tax Deduction Reduction

Friday, March 06, 2009

Mayor Bloomberg is troubled by President Obama's budget proposal, which would reduce tax deductions for charity donations.

Bloomberg personally gave $205 million to over a thousand different charitable organizations last year. He says with endowments down and charitable giving low, this is a bad time for institutions that rely on donations.

BLOOMBERG: And to make it harder by making less deductibility doesn't make any sense to me whatsoever.

A study released by the Center on Philanthropy at Indiana University might assuage the Mayor's concerns. It found 52 percent of wealthy households said they would continue to give even if there were no tax deductions.


More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.


Latest Newscast




WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public


Supported by