"Like past budget proposals, President Obama’s new budget plan calls—again—for lowering the charitable contribution deduction."
"The current tax code allows individuals to deduct their giving from their overall tax liability at a rate equal to their tax bracket. Obama wants to cap the charitable deduction at what it would be for taxpayers in the 28 percent tax bracket."
Right now, for instance, taxpayers in the top bracket can take a deduction at their 39.6 percent rate. So for every $100 donated, the amount they can deduct overall would fall from $39.60 to $28."
Obama Again Calls for Reducing Charitable Contribution Deduction