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Trump Administration's Tax Cuts Favor Corporations, Undermine Biden Law

11/9/2025

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Summary

Story summary

The Trump administration is distributing significant tax cuts to major corporations and wealthy investors with minimal public oversight.
New regulations from the Treasury Department and IRS favor private equity firms, cryptocurrency companies, and foreign real estate investors.
These changes undermine a 2022 law, enacted under President Biden, which aimed to ensure profitable corporations pay federal income tax through a corporate alternative minimum tax.
This law was projected to generate $222 billion over ten years, but recent actions may greatly diminish that revenue.

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Story summary

The Trump administration is distributing significant tax cuts to major corporations and wealthy investors with minimal public oversight.
New regulations from the Treasury Department and IRS favor private equity firms, cryptocurrency companies, and foreign real estate investors.
These changes undermine a 2022 law, enacted under President Biden, which aimed to ensure profitable corporations pay federal income tax through a corporate alternative minimum tax.
This law was projected to generate $222 billion over ten years, but recent actions may greatly diminish that revenue.