Trump Quietly Gives Tax Breaks to Rich as Food Aid Slashed, Critics Say
The Trump administration is actively working to undermine the Corporate Alternative Minimum Tax (CAMT), a Biden-era measure designed to ensure large, profitable companies pay a minimum 15% tax on their book profits. This effort involves issuing guidance and regulatory proposals that weaken the CAMT, potentially providing significant tax breaks to corporations and investors. Critics, including Democratic lawmakers, have raised concerns that these actions create loopholes and may exceed the administration’s legal authority, potentially allowing wealthy corporations to avoid their tax obligations. Specifically, lawmakers are scrutinizing a recent notice that significantly increased the safe harbor threshold, which could exempt companies from CAMT liability.
John Q. Hosedrinker