BILLIONS IN TAX BREAKS FOR SLUMP

Billions in tax breaks for slump. New tax breaks expected to total about $650 billion are starting to flow to U.S. businesses, giving a quick cash infusion and longer term help to ride out the coronavirus induced economic downturn. Companies reported tax deferrals or benefits exceeding $100 million each include fast-casual chain Chipotle Mexican Grill […]

TAX CUT PUSHING DEFICIT HIGHER

Tax cut pushing deficit higher. In the trough of the Great Recession in 2009, as companies laid off hundreds of thousands of workers each month, the amount of corporate income taxes collected by the federal government plunged by almost a third. It was the largest quarterly drop since the Commerce Department began compiling data in […]