At a House Ways and Means subcommittee hearing on food banks and charitable giving on November 19th, Oversight Subcommittee ranking minority member Charles Boustany, R-La., stated, "President Obama's budget proposal to cap the value of itemized deductions at the 28% tax rate, while increasing the top rate to 39.6%, would have a detrimental effect on charitable giving," and "transfer more than $70 billion over ten years from charities to the federal government."
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