Focus at Four: Changes to charitable giving under tax reform bill

The Congressional Budget Office estimates charitable giving could decrease up to 20 percent under the new tax plan.

Recent tax reform is likely doubling the standard deduction.

Financial planners say, that could decrease the incentive to actual donate because it may be just as profitable, tax-wise, to take the standard deduction without donating anything.

The Texas A&M Director of Financial Planning sat down on Focus at Four to discuss. Nathan Harness says certain kinds of non-profits with certain kinds of donors could see a down-tick in donations.

"The idea would be that some individuals give to charity not out of the heart or nature of giving to charity, but because of the tax deduction," said Harness. "If, for a percentage of the population, that goes away, then this becomes problematic."

For the full conversation, see the video player above.