House Minority Leader Kevin McCarthy said Friday that the $1.9 trillion COVID-19 stimulus bill, signed into law on Thursday, is a cash giveaway to liberal causes and will cost every American family of four $22,000.
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“This is a waste of money, less than 9% is going to COVID,” McCarthy said, calling the legislation “a payoff to [House Speaker Nancy] Pelosi’s political friends.”
Biden Relief Bill Contains $57 Billion in Hidden Tax Increases
There is more than $57 billion worth of hidden tax increases in President Joe Biden’s $1.9 trillion coronavirus stimulus bill, Just the News has learned.The final version of the legislation expands the number of employees who are covered by the $1 million limitation on the deductibility of executive compensation.
According to National Law Review, section 162(m) of the tax code “generally prohibits a public company from deducting more than $1 million in compensation paid to a current or former covered employee in a taxable year,” and under current law “the covered employees are the chief executive officer, chief financial officer, and the three …