John,
Believe it or not, Donald Trump’s solution to helping millions of out-of-work restaurant workers is to hand even more tax write-offs to corporate executives having three martini lunches.
Trump’s latest stimulus proposal is to allow businesses to deduct from their taxable income the total cost of corporate meals instead of the 50% tax write-off that they currently enjoy. And he wants to let them write off 100% of their “entertainment” expenses—such as sky boxes to entertain customers at sports events and concerts and greens fees at fancy country clubs. [1]
At a time when restaurants across the country are either shuttered or down to a skeletal staff for take-out to protect employees and customers from getting COVID-19, more tax write-offs for businesses won’t bring customers back, get restaurant workers back to work or put desperately needed income into their pockets.
We’re fighting to demand that the next round of COVID-19 economic response legislation puts money where the need is greatest—in the pockets of laid-off families, better protecting first-responders and delivering food and other services to people who can’t put three square meals a day on their table. It must not pay for tax write-offs for CEOs and wealthy corporations.
Donate to Americans for Tax Fairness today to stand with working people and fight back against the army of Wall Street lobbyists who are looking for any way to profit off of this global health crisis.
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Believe it or not, letting lobbyists and corporate executives write off their steak dinners actually doesn’t help the restaurant industry or working people.
Thank you for joining with us today,
Frank Clemente
Executive Director
Americans for Tax Fairness
[1] “Trump wants Congress to restore full tax deduction for meals, entertainment,” Reuters, March 29, 2020