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The Most Ridiculous Tax Break In the New Covid Stimulus Package

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Business owners received a HUGE windfall in the new stimulus package. Ana Kasparian and Cenk Uygur discuss on The Young Turks. Keep Hope (and TYT) Alive: http://tyt.com/go

Read More: https://www.bloomberg.com/news/articles/2020-12-21/businesses-get-100-billion-tax-write-off-windfall-in-aid-bill

"Small business owners who got Paycheck Protection Program loans could qualify for big write-offs from their rescue money, amounting to what Treasury Secretary Steven Mnuchin has called a tax-break “double dip.”

The Covid-19 relief package set for a vote in Congress would clarify that business owners can deduct expenses paid for with PPP loans, which can be forgiven by the government without incurring a tax. The deduction benefit could generate more than $100 billion in tax savings for business owners, according to Brookings Institution estimates."*

Hosts: Ana Kasparian, Cenk Uygur

Cast: Ana Kasparian, Cenk Uygur

***

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201221__TA03_Double_Dipping
Category
Europe
Tags
201221__TA03_Double_Dipping, News, Politics
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