Will Tax Changes Cause Drop in Charitable Giving?

The tax legislation passed by Congress last month hikes the standard deduction used by two-thirds of Americans to $12,000 for individuals and $24,000 for married couples. This bigger deduction may mean fewer Americans itemize their returns, including claiming any deduction for gifts to churches and charities. The jury is still out on whether this will reduce charitable giving, but you can read this AP article for more information.