John Cornyn: “This budget would actually cap charitable contributions…”

“Things you don't get paid for, but things that people do because they think it's the right thing to do and they have the opportunity to do in our great country. But This budget would actually cap charitable contributions, which will actually reduce the tax incentive for individuals to contribute money to good causes. like this Tyler Community College foundation in Tyler, Texas. The foundation is understandably concerned that raising taxes without increasing the charitable tax deduction will limit their ability to offer as many scholarships in future years.” (04:46–04:57)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.