Source: Town Hall
by Stephen Moore
“President Donald Trump has promised to create millions of new high-paying jobs. One easy first step to doing that is to repeal Biden regulations on America’s 4 million business partnerships (sometimes known as S corporations) that are prolific job creators. The latest estimates find 10 million Americans employed by these business partnerships, with $800 billion paid in worker salaries and benefits. … The profits from these enterprises are passed through to the 28 million partners, who make tax payments based on their share of those earnings. These have been the tax rules governing partnerships for many decades. The Biden administration didn’t like the tax rules, so instead of asking Congress to change them, then-President Joe Biden’s Treasury Department worked through the back door to unilaterally modify the rules as part of its ‘fairness’ agenda.” (03/26/25)