President Donald Trump is taking an old political adage to heart: Never let a crisis go to waste.
The coronavirus is projected to kill more than 100,000 Americans. It has effectively shuttered the economy, torpedoed the stock market and rewritten the rules of what used to be called normal life.
But in this moment of upheaval, Trump and his advisers haven’t lost sight of the opportunity to advance his agenda.
A look at some of the president’s notable moves:
Bringing back the entertainment tax deduction
Trump has called on Congress to revive the tax deduction for business-related expenses on meals and entertainment, arguing it would help bolster high-end restaurants hammered by the outbreak.
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Trump’s own tax law in 2017 sliced the tax rate for corporations from 35 per cent to 21 per cent and eliminated the deduction.
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“This is a great time to bring it back,” Trump said of the resurrecting the tax break. “Otherwise a lot of these restaurants are going to have a hard time reopening,” he said at White House briefing Wednesday.
During a Rose Garden briefing last Sunday, Trump said he had spoken with celebrity chef Wolfgang Puck about the idea.
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