Leahy: No Tax Breaks For Corporate Misconduct

Blumenthal, Reed, Gillibrand, Hassan Join Leahy-Authored Bill To Close Loophole Allowing Corporations to Deduct Punitive Damages
WASHINGTON (THURSDAY, Nov. 9, 2017) – U.S. Senator Patrick Leahy (D-Vt.) Thursday reintroduced legislation to close a tax loophole that allows corporations to write off the punishment they receive for egregious wrongdoing as an “ordinary” business expense.
Punitive damages are imposed rarely, and only on bad actors whose reckless misconduct resulted i