Congress Passes Temporary Tax Breaks for Big Business Now for 15 Years Straight | WHAT REALLY HAPPENED

Congress Passes Temporary Tax Breaks for Big Business Now for 15 Years Straight

Last week, the House voted to extend special interest tax breaks, most of which expired at the end of last year. The 55 provisions included in this year's package are the legacy of the Bush-era tax cuts that began in 2001. But 15 years later, these temporary tax break meant to stimulate a slowing economy have mutated into a slew of provisions that mostly help corporations avoid taxes. According to the bipartisan nonprofit Committee for a Responsible Federal Budget, these tax extenders have sapped the U.S. government of $44 billion in lost revenue over the past decade. And while some provisions do help individuals in the middle and lower classes, like tuition credits and deductions for teachers buying school supplies, three-quarters of that lost revenue has gone to big businesses.

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