From opinion columnist Dana Milbank:
Senate Majority Leader Mitch McConnell (R-Ky.) and House Minority Leader Kevin McCarthy (R-Calif.) have insisted that Congress spend another $250 billion on small businesses devastated by the pandemic, but they refuse to “renegotiate unrelated programs” from last month’s emergency coronavirus bill. What are they afraid of?
Well, maybe it’s this: As the dust settles on the $2.2 trillion legislation, it has become clear that one of its largest provisions, a $170 billion tax giveaway, appears to be tailor-made for the benefit of wealthy real estate investors such as President Trump and his son-in-law, Jared Kushner, who is running one of Trump’s coronavirus task forces.
The giveaway, primarily to real estate investors and hedge funds, is larger than the total amount in the legislation for hospitals ($100 billion) and for relief for all state and local governments ($150 billion). Worse, the bonanza for these millionaires and billionaires has little to do with the coronavirus: It lets them offset losses not just from 2020 but from 2018 and 2019, before the pandemic.
Read the full column.