The Tax Plan’s Corporate Losers and Winners: DealBook Briefing [The New York Times]
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Source: The New York Times
• Electric vehicle makers stand to lose the electric vehicle tax credit. Tesla’s stock fell 6.8 percent on Thursday. ( NYT ) • Shares in private equity firms took a hit because the legislation would cap the deductibility of interest payments that exceed 30 percent of income. (At least the carried interest tax rate will remain the same.) ( FT ) (Worth checking out: Six charts that help explain the tax plan, by Alicia Parlapiano of The NYT.) Expect no small amount of lobbying from those businesses — and from lawmakers in high-tax states, who continue to demand more favorable deductions for state and local taxes. Still, corporate America over all appears happy. Photo House Republicans unveiled their tax cut bill during a news conference at the Capitol on Thursday. Credit Al Drago for The New York Times After all, the Joint Committee on Taxation calculates that the bill represents $1 trillion in business-related cuts. Both the U.S.
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