Obama says Republican proposals would put nonprofits at risk

U.S. President Obama gestures during a news conference at the White House in WashingtonWASHINGTON (Reuters) – President Barack Obama warned on Tuesday that Republican tax proposals could threaten the collapse of hospitals and universities benefiting from charitable deductions. "There's been a lot of talk that somehow we can raise $800 billion or $1 trillion worth of revenue just by closing loopholes and deductions," Obama said in a Bloomberg TV interview. "The only way to do that would be if you completely eliminated, for example, charitable deductions. …

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