It was probably inevitable that Republicans would decide that their solution to this particular problem would be their solution to every problem. jonathanchait writes
Photo: Pete Marovich/The New York Times/Bloomberg via Getty Images The Trump administration, thrashing around for solutions to the pandemic and recession, is falling back on the response every Republican administration has sought for four decades: giving rich people a big tax cut. The administration has already endorsed restoring the tax deduction for business meals, a tax break that allows the executive class to dine out at taxpayer expense.
One of the measures in that bill that failed to yield the promised surge in investment was a measure allowing business to expense all investments through 2022. In theory, that measure gave them an incentive to push up their investment quickly — they could enjoy a tax benefit by moving up their plans to, say, open a new factory, before the tax break expires at the end of 2022.
Second, Trump wants to restore the deduction for business meals as a measure to prop up the restaurant industry. It is certainly true that restaurants face an existential threat from the coronavirus. But letting executives write off the cost of meals where they “discuss business” — a notoriously lax requirement that functionally subsidies pleasure as a business cost — is unlikely to save those restaurants.
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