More than 80% of the benefits of a tax change tucked into the coronavirus relief package passed by Congress last month will go to those who earn more than $1 million annually, according to a report by a nonpartisan congressional body.
The provision, inserted into the law by Senate Republicans, temporarily suspends a limitation on how much owners of businesses formed as “pass-through” entities can deduct in taxes from losses on other business income.
Looting me..Looting you...Think about that!
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