Bill Limits Deductions News Today

It also slashes rates on pass-through businesses in which owners report their earnings after expenses as personal income to just 25%. it taxes corporations on u.s. income only, not worldwide income, the way theyre taxed now, and it gives business immediate write-offs on the full cost of new equipment. but these big giveaways to corporate america have to be paid for somehow and the tax writers do it off the backs of middle class families. the bill limits deductions on new mortgage interest and pr...