Bloomberg – A Republican proposal to give small businesses an extra 20 percent tax deduction may yield cuts for some multibillion-dollar hedge funds, law firms and other enterprises that create significant profits with few employees.
Republicans hope to release details of the bill during the week of March 19, said Laena Fallon, a spokeswoman for Representative Eric Cantor, the House majority leader. Cantor told House members in a memo last month his plan would let “every” business with fewer than 500 employees deduct 20 percent of its profits.
