In their quest to cut taxes while not running up huge deficits, Senate Republicans have had to find creative ways to save money in their forthcoming tax reform bill. Although some estimates say that the Republican tax bill would add $1.8 trillion to the federal debt over 10 years, you can rest assured that the Republican Party is committed to cutting irresponsible spending: In an effort to save money, the new plan will prevent your employer from being able to write off lunches purchased for workers or workplace entertainment, HuffPost reported Wednesday.
The move would save $23 billion over 10 years, HuffPost reported — or just 1.3 percent of the total expected deficit increase. Under the current tax code, employers who give the majority of their workers free lunches can deduct 50 percent of the cost. The House version of the bill does not touch free workplace lunch, but it would eliminate tax breaks for employer-paid day care assistance programs, as well as employee-sponsored moving expenses and achievement awards, all for the sake of saving $12 billion.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - May 11, 2025Cartoons Sunday's cartoons - shark-infested waters, Mother's Day, and more
-
5 fundamentally funny cartoons about the US ConstitutionCartoons Artists take on Sharpie edits, wear and tear, and more
-
In search of paradise in Thailand's western islesThe Week Recommends 'Unspoiled spots' remain, providing a fascinating insight into the past
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Chinese AI chatbot's rise slams US tech stocksSpeed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
-
US port strike averted with tentative labor dealSpeed Read The strike could have shut down major ports from Texas to Maine
