Republicans look at limiting corporate expensing of salaries above $1 million

The WSJ reports that Republicans are looking at a proposal that the Biden administration had floated: Limiting the deductibility of corporate salaries above $1m.

The move would raise around $20 billion per year, which still leaves a huge funding cap.

Bessent said this week that Republicans are looking to pass the bill before July 4, later than the initial Memorial Day push.

This article was written by Adam Button at www.forexlive.com.