Stars and Stripes stripes.com 22 Dec, 2020 19:00 am

Beer, restaurants and NASCAR win tax breaks in coronavirus-relief bill

Beer, restaurants and NASCAR win tax breaks in coronavirus-relief bill
Tucked in among more than 5,000 pages of legislative text, Congress's bill providing covid-19 relief and 2021 government funding includes dozens of tax breaks for beneficiaries ranging from downtown restaurants and the film industry to motorsports racetracks.

Beer, restaurants and NASCAR win tax breaks in coronavirus-relief bill Stars and Stripes is making stories on the coronavirus pandemic available free of charge.Tucked in among more than 5,000 pages of legislative text, Congress's bill providing covid-19 relief and 2021 government funding includes dozens of tax breaks for beneficiaries ranging from downtown restaurants and the film industry to motorsports racetracks.Economists have argued that many of the tax breaks would do little immediately to spur economic activity.The legislation also extends an above-the-line tax deduction for charitable gifts — so all taxpayers, not just those who itemize, can get tax breaks for donations.

The legislation makes permanent several tax breaks that lawmakers have been repeatedly extending for years.Several more — including the benefit for motor-sport racetracks, deductions for film producers and tax breaks for employers to provide paid sick leave and pay for tuition costs — got temporary extensions through the end of 2025.

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