U.S. President Donald Trump speaks during a meeting with supply chain distributors in the Cabinet Room of the White House in Washington, U.S., March 29, 2020. REUTERS/Al Drago
WASHINGTON (Reuters) – U.S. President Donald Trump called on Congress Sunday to restore the full tax deduction for meals and entertainment in response to the coronavirus pandemic.
As part of a wide-ranging 2017 tax reform measure, Congress eliminated the corporate tax deduction for entertainment expenses, but taxpayers were allowed to continue to deduct 50% of the cost of client business meals. Trump said he wanted to restore that tax deduction “so companies can send people to restaurants.”
Reporting by David Shepardson; editing by Diane Craft