Big companies, including Coca-Cola, lobbied for one of the tax breaks for the last two years.Joshua Bright for The New York Timeso
(Image by Joshua Bright for The New York Times) Details DMCA
"As small businesses and individuals struggle to obtain federal aid, the wealthiest are poised to reap tens of billions of dollars in tax savings. Some of the breaks apply to taxes that have long been in the cross hairs of corporate lobbyists. They undo limitations that were imposed to rein in the giveaways embedded in a $1.5 trillion tax-cut package enacted in 2017. None specifically target businesses or individuals harmed by the coronavirus. Wealthy individuals and big companies that are poised for tax windfalls.As part of the economic rescue package that became law last month, the federal government is giving away $174 billion in temporary tax breaks overwhelmingly to rich individuals and large companies, according to interviews and government estimates."
At www.nytimes.com
