Democrats wanted a tax credit for low income families. Republicans wanted a tax break for '3 martini lunches.'
In order to reach a compromise on a COVID-19 aid law, both congress parties had to trade some proverbial "horses", even if one side viewed the other as "incomprehensible".
That's the word Senator Ron Wyden (D-Ore.) Used to describe the GOP's White House-backed corporate meal tax break, according to the Washington Post. Proponents of the tax break, including President Trump, argue that this will help boost restaurant activity, but critics have derisively labeled it a "three-martini lunch" and claim that it will benefit business people more than the hospitality industry. But despite strong democratic opposition, it has worked its way into the draft auxiliary bill, which Congress will hopefully soon pass.
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The reason? Democratic leaders gave in to the controversial tax break as their Republican counterparts agreed to expand tax credits for low-income families and the working poor in exchange for their admission, a Democratic aide told the Washington Post on condition of anonymity. Read more at the Washington Post.
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