Trump’s Corporate Tax Break Worth $67 Billion Hits a Snag

“One of the most lucrative tax breaks corporate America won in Donald Trump’s signature economic legislation — worth an estimated $67 billion this year — is hitting a roadblock in a minimum tax Congress set three years ago under Democratic President Joe Biden,” Bloomberg reports.

“Trump’s recently enacted tax law sweetened a break for corporate research and development investments, a provision especially valuable to technology, pharmaceutical and manufacturing businesses.”

“But some businesses won’t be able to take full advantage of the break, thanks to the Biden-era provision that lobbyists argue threatens to curtail the economic boost in Republicans’ tax law.”