WaPo Gives Dems More Pinocchios On Tax Bill
The Washington Post has awarded three more Democrats with some major
“Pinocchios” for claiming that the Republican tax bill gives tax breaks
for private jets.
Democratic National Committee Chair Tom Perez, Oregon Sen. Jeff
Merkley and California Sen. Kamala Harris all referenced the alleged tax
break for private planes in recent tweets.
The Washington Post
awarded Harris three Pinocchios for referencing the “private jet tax
break” and awarded Merkley and Perez four Pinocchios for suggesting that
education and health funding were cut to finance the “tax break.”
As WaPo explains, the provision in the bill about private planes is
actually a regulatory clarification for the IRS. Private jets are exempt
from excise taxes but the IRS had a gray area regarding taxation on
private jet management companies. The GOP bill now explicitly exempts
those companies from the excise tax.
“While the cause is well-intended, the characterization of the excise
tax clause as a tax break is misguided,” WaPo explains. “The provision
provides regulatory clarity on a tax that has never successfully been
imposed on private jet management companies. In short, the companies
can’t receive a break on taxes that were never collected
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