A casino in Reno, Nev. The change has led to backlash from the gambling industry, which argues that the tax increase will hurt the hospitality sector in states like Nevada.
Tucked into the huge set of tax cuts that Republicans passed into law this month was the expansion of an unusually valuable tax break for start-up investors.
Congress has expanded a tax break, known as the qualified small business stock exclusion, that allows investors and founders to skip out on paying taxes when they cash out their shares in start-ups.
The president’s marquee policy legislation is best known for slashing taxes and cutting social safety net programs. But the sweeping measure also included many little-noticed goodies and add-ons.
A fishing boat in Metlakatla, Alaska. Senator Lisa Murkowski of Alaska may have come away with the biggest pot of benefits narrowly targeted to her state.
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