Cap On Interest Tax Deduction Would Cost $33B, Group Says

Law360, New York (January 16, 2014, 1:42 PM EST) -- A congressional plan to cap business interest deductibility as a part of a proposed tax code overhaul would slash long-term economic growth by $33 billion and slow business output in all 50 states, according to a report released Thursday by the BUILD Coalition.

BUILD, a group backed by retail, real estate, hospitality and finance companies, said the financial impact of placing limits on interest deductions would be felt primarily within the first decade after enactment, and companies would immediately face rising investment capital costs.

“The stated...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.