Trump wants Congress to restore full tax deduction for meals, entertainment

Trump wants Congress to restore full tax deduction for meals, entertainment

© Reuters. U.S. President Donald Trump speaks during a meeting with supply chain distributors in the Cabinet Room of the White House

WASHINGTON (Reuters) – U.S. President Donald Trump called on Congress Sunday to restore the full tax deduction for meals and entertainment in response to the coronavirus pandemic.

As part of a wide-ranging 2017 tax reform measure, Congress eliminated the corporate tax deduction for entertainment expenses, but taxpayers were allowed to continue to deduct 50% of the cost of client business meals. Trump said he wanted to restore that tax deduction “so companies can send people to restaurants.”

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Source : Reuters Link

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