Trump tax break for certain businesses gets a pass in Biden plan
President Joe Biden is calling for higher taxes on wealthy Americans to cover child care, paid family leave, education programs and other priorities.

Yet the plans exclude a policy he vowed to reel in during the campaign: the 20% deduction for certain businesses. 

Tax experts share why Biden may have skipped the change and how it may impact revenue.

  • President Joe Biden wants to raise taxes on the wealthy to help pay for the $1.8 trillion American Families Plan. 
  • But his plan skips changes to the 20% pass-through business deductions, one of his campaign promises.

  • Tax experts weigh in on the policy shift and how it may impact revenue.

RSK: Hmm, would be nice if this did happen but not holding my breath. Many people in real estate have these small sole proprietorships and S corps for their business. We will follow this story.

- - Volume: 9 - WEEK: 21 Date: 5/18/2021 8:24:54 AM -