(WASHINGTON, February 26, 2009) -- Diana Aviv, president and CEO of Independent Sector, today issued a statement regarding President Obama's budget blueprint, “A New Era of Responsibility: Renewing America's Promise.”

Statement:

President Obama's much anticipated budget blueprint sets an ambitious agenda for tackling health care and the economy while underscoring his pledge to remain fiscally responsible.

The administration's budget plan calls for tax changes for those in the highest bracket, including a measure that would reduce the value of tax deductions for charitable donations, state and local taxes, and real estate expenses for families earning more than $250,000. The plan indicates that the budget will limit the value of such deductions to the level that individuals in the 28 percent tax bracket can take.

Independent Sector believes that this change could be a disincentive to some donors who might further cap their gifts on account of the new limit. This could be a problem for many struggling nonprofits vital to our communities that are already facing a very difficult fundraising environment.

For more information on the federal budget plan for FY 2010, please visit the budget section of the IS website.

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Independent Sector is a nonprofit, nonpartisan coalition of approximately 550 charities, foundations, and corporate giving programs, collectively representing tens of thousands of charitable groups in every state across the nation. Its mission is to advance the common good by leading, strengthening, and mobilizing the nonprofit and philanthropic community.