The Corner

Politics & Policy

What’s Wrong with Loss Deductions?

Not much, explains my AEI colleague Kyle Pomerleau.

A few weeks after the passage of the CARES Act, commentators began criticizing the Act’s provisions liberalizing the tax treatment of business losses. A New York Times piece argued that one of the provisions was a giveaway to the real estate industry. A more recent Bloomberg article called the provisions a “stealth bailout” for oil and gas companies. While there is room to improve the provisions, they are neither a bailout nor a giveaway.

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

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