POLITICO Morning Tax: Welcome, commissioner
media mentionFOOT OFF THE ACCELERATOR, PLEASE: The Institute on Taxation and Economic Policy’s Matthew Gardner and Steve Wamhoff maintain in a new paper that the proposals to allow companies to cash out on their tax credits won’t just help businesses in desperate need of cash.
Instead, they argue that companies like Amazon and Netflix, which are already carrying forward large chunks of tax credits, could be big winners under the kinds of proposals being discussed on the Hill. “This could benefit corporations that are profitable but that nonetheless pay no taxes or very little in taxes because of the many tax breaks and legal loopholes they already enjoy,” Gardner and Wamhoff write.