$60 Billion In Tax Increases Tucked In Relief Bill

Politico: “One takes away deductions for publicly traded companies that pay top employees more than $1 million. Another provision cracks down on how multinational corporations do their taxes. A third targets how owners of unincorporated businesses account for their losses.”

“It’s surprising because Democrats were widely expected to put off their tax-increase plans until later… But they ran into problems complying with the stringent budget rules surrounding so-called reconciliation measures like the coronavirus legislation — especially after some wanted to add provisions like one waiving taxes on unemployment benefits.”