Businesses Made a Big Tax-Cut Request. Republicans Said Yes—And Then Some
WASHINGTON—Lobbyists and trade associations built a multiyear campaign to push Congress for permanent extension of a 20% deduction for millions of closely held businesses, and they built strong support among Republicans. House GOP tax writers then went $104 billion above and beyond that request, proposing a permanent 23% deduction that surprised and delighted advocates for the tax break.
'No one was asking if we wanted it increased,' said Jeff Brabant, vice president for federal government relations at the National Federation for Independent Business. 'Congress certainly put their money where their mouth was.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Chicago Sky Star Makes Demand After Loss on Sunday
Chicago Sky Star Makes Demand After Loss on Sunday originally appeared on Athlon Sports. The Chicago Sky lost to the Atlanta Dream on Sunday, falling to 3-10 on the WNBA season. While it ultimately goes down as another tally in a growing loss column, there were some positive developments for Chicago. Advertisement One encouraging sign for the Sky was how reserve center Elizabeth Williams performed. The 2017 All-Star tallied 16 points and five rebounds off the bench. While this marked a season-high in scoring for Williams, she had bigger things on her mind after the game. As the secretary of the WNBA Player's Association, Williams demanded player salaries begin reflecting the league's growth in recent years. Chicago Sky center Elizabeth Williams (1).Chris Jones-Imagn Images As reported and transcribed by Sky reporter Karli Bell, Williams issued a clear message: "On behalf on my teammates and every member of our union, I want to be clear that we remain committed to negotiating the next CBA with the league and the teams in good faith and privately, but we do want to set the record straight not for the headlines but for the fans who support us and deserve transparency about what's at stake." Advertisement She added, "This is a defining moment for the WNBA. As the league grows, it's time for a CBA that reflects our true value... We deserve a fair share, and we're demanding salaries that reflect our true value." Last month, Ben Pickman of The Athletic provided some insight into the ongoing CBA negotiations. "Players are coming to the negotiating table with several priorities, including increased salaries, a softened salary cap and more access to family planning services," he reported. "Retirement benefits that provide long-term security for players and their families are also among key priorities, and standardizing team work environments, including facility and travel accommodations as well as support staff minimums, are on the list too." Advertisement Related: Chicago Sky Announce Angel Reese Injury News After Ninth Loss This story was originally reported by Athlon Sports on Jun 22, 2025, where it first appeared.
Yahoo
19 minutes ago
- Yahoo
Texas governor vetoes bill that would ban all THC products
AUSTIN, Texas (AP) — Texas Gov. Greg Abbott vetoed a bill Sunday to ban all THC consumables, allowing the booming market flush with THC-infused vapes, gummies and other products to continue to be sold across the state. Abbott, a Republican, waited until the final moment to veto the bill in what would have been one of the most restrictive THC bans in the country and a significant blow to the state's billion-dollar industry. The law would have made it a misdemeanor to own, manufacture or sell consumable THC, or tetrahydrocannabinol, products and was the latest push by states to regulate THC after a 2018 federal law allowed states to regulate hemp, a similar plant to marijuana that can be synthetically processed to produce THC, the compound giving marijuana its psychoactive properties. Loopholes in existing law have allowed many THC-infused goods to enter the market across the country, including states with strict marijuana laws. Texas has some of the strictest marijuana laws in the country, prohibiting all recreational use and providing a limited medical marijuana program. The consumables market has allowed residents to legally access goods giving a similar high to marijuana. Republican lawmakers have criticized the products as dangerous due to a lack of federal oversight in how the goods are manufactured. Texas' ban is one of the more far-reaching among states that have taken similar steps. Several states, including California, have imposed age limits and restrictions on the potency of THC products. Critics of the Texas bill say it allows people who cannot access marijuana through the state's medical marijuana program to acquire goods that can provide a similar relief. Many retailers across the state also pointed to the thousands of jobs and millions in revenue the industry brings each year. Last year, Florida Republican Gov. Ron DeSantis vetoed a bill that would have put age restrictions on THC consumables, claiming it would hurt small businesses. ___ Lathan is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Nadia Lathan, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
20 minutes ago
- Associated Press
Texas governor vetoes bill that would ban all THC products
AUSTIN, Texas (AP) — Texas Gov. Greg Abbott vetoed a bill Sunday to ban all THC consumables, allowing the booming market flush with THC-infused vapes, gummies and other products to continue to be sold across the state. Abbott, a Republican, waited until the final moment to veto the bill in what would have been one of the most restrictive THC bans in the country and a significant blow to the state's billion-dollar industry. The law would have made it a misdemeanor to own, manufacture or sell consumable THC, or tetrahydrocannabinol, products and was the latest push by states to regulate THC after a 2018 federal law allowed states to regulate hemp, a similar plant to marijuana that can be synthetically processed to produce THC, the compound giving marijuana its psychoactive properties. Loopholes in existing law have allowed many THC-infused goods to enter the market across the country, including states with strict marijuana laws. Texas has some of the strictest marijuana laws in the country, prohibiting all recreational use and providing a limited medical marijuana program. The consumables market has allowed residents to legally access goods giving a similar high to marijuana. Republican lawmakers have criticized the products as dangerous due to a lack of federal oversight in how the goods are manufactured. Texas' ban is one of the more far-reaching among states that have taken similar steps. Several states, including California, have imposed age limits and restrictions on the potency of THC products. Critics of the Texas bill say it allows people who cannot access marijuana through the state's medical marijuana program to acquire goods that can provide a similar relief. Many retailers across the state also pointed to the thousands of jobs and millions in revenue the industry brings each year. Last year, Florida Republican Gov. Ron DeSantis vetoed a bill that would have put age restrictions on THC consumables, claiming it would hurt small businesses. ___ Lathan is a corps member for the Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.
