With its various #tax relief provisions, the admin is now effectively adding hundreds of billions of dollars in new breaks for big businesses & investors. The #Treasury is empowered to write rules to help the #IRS carry out tax laws passed by #Congress. But the aggressive actions of the #Trump admin raise questions about whether it is exceeding its legal #authority.

#aristocracy #plutocracy #WealthGap #USpol #law

The primary target: The admin is rapidly gutting a 2022 #law intended to ensure the country’s most profitable #corporations pay at least some federal income #tax. The provision, the corporate alternative minimum tax, was passed by #Democrats & signed into law by President #Biden. It sought to stop corporations from being able to report big profits to shareholders yet low tax liabilities to the federal government. It was projected to raise $222 billion over a decade.

#Trump #aristocracy #USpol