Republicans are trying to rewrite U.S. tax codes with the possibility of doing an interest deduction. Removing this deduction would have a great effect on any business by giving companies an incentive to take out loans. Getting rid of this deduction is likely to create $1.5 trillion in a decade for the U.S. government. This plan would help offset corporate tax cuts and would help innovative companies that lack in physical assets.
The $1.5 Trillion Business Tax Change Flying Under the Radar
- Posted June 26
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