TechFlow, November 9 — According to Jinshi Data, the Trump administration has been secretly providing additional large-scale tax breaks to ultra-wealthy businesses. As reported by The New York Times, the U.S. Treasury Department has issued proposed regulations offering tax relief to private equity firms, cryptocurrency companies, foreign real estate investors, and other major corporations. For example, in October this year, the Internal Revenue Service (IRS) released new proposed regulations that would provide benefits for foreign investors investing in U.S. real estate. In August, the IRS proposed relaxing rules designed to prevent multinational corporations from avoiding taxes by claiming duplicate losses in multiple countries. These announcements have not yet made major media headlines but have drawn attention from accounting and consulting firms. Kyle Pomerleau, senior researcher at the American Enterprise Institute, stated: “The U.S. Treasury is clearly implementing tax cuts without legislation. Congress determines tax law. By asserting greater authority over tax policy than Congress has granted, the Treasury undermines this constitutional principle.”
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