Story perspectives

Trump Administration Undermines Corporate Tax Law, Critics Warn

11/8/2025

Summary

Story summary

U.S. President Donald Trump’s administration undermines the corporate alternative minimum tax (CAMT) with IRS guidance that allows loopholes for large corporations, including private equity and crypto firms, potentially costing billions.
President Biden's Inflation Reduction Act enacts CAMT to require profitable corporations to pay at least 15% in taxes.
Critics, including Democratic lawmakers, say these actions exceed the Treasury's authority, favor wealthy investors, neglect low-income Americans, and threaten the federal deficit.

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Story summary

U.S. President Donald Trump’s administration undermines the corporate alternative minimum tax (CAMT) with IRS guidance that allows loopholes for large corporations, including private equity and crypto firms, potentially costing billions.
President Biden's Inflation Reduction Act enacts CAMT to require profitable corporations to pay at least 15% in taxes.
Critics, including Democratic lawmakers, say these actions exceed the Treasury's authority, favor wealthy investors, neglect low-income Americans, and threaten the federal deficit.