Tag: pass-through businesses
A $60 billion surprise in the Covid relief bill: Tax hikes
Democrats are getting an early start on their tax-increase agenda.
They’ve tucked a trio of little-noticed tax hikes on the wealthy and big corporations into their coronavirus relief package that together are worth $60 billion.
A $60 billion surprise in the Covid relief bill: Tax hikes
It’s already passed, but just heard about these tax hikes.
Millionaire Republican Cites Deficit To Block Aid — After Enriching Himself With Special Tax Cuts
Millionaire Republican Cites Deficit To Block Aid — After Enriching Himself With Special Tax Cuts
Financial disclosure records reviewed by The Daily Poster show Johnson and his wife own a limited liability corporation, which is the kind of pass through entities that were targeted for tax cuts by Johnson’s 2017 legislation. Their LLC owns an industrial building in Oshkosh, Wisc., that is worth between $5 million and $25 million and generated as much as $1 million in income last year.
Related:
Michael Linden, executive director of the Groundwork Collaborative, noted on Twitter following Johnson’s objection that “another round of stimulus checks at $1,200 would be roughly 1/7 of the size of the Trump tax cuts which Senator Johnson happily supported.”
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