WASHINGTON, D.C. — One of the late-night, last-minute changes to the Senate’s tax reform bill is a huge break for auto dealers, reported WGNO.
The tax reform bill will lower taxes on many corporations, as promised. But in its original form it would have meant higher taxes for most car dealers.
That’s because the bill imposed new limits on the interest payments businesses can write off, capping any deduction at 30 percent of a company’s income.
Read the full WGNO article here.