The restaurant industry has been scrambling for solutions to save itself during the coronavirus pandemic. President Trump has floated the idea of changing a provision in the 2017 tax law.
So what I'm doing is I'm going to tell Secretary Mnuchin and also our great Secretary of Labor, who you know very well, to immediately start looking into the restoring of the deductibility of meals and entertainment costs for corporations that set the restaurant business back a lot when it was done originally, and then done not so long ago.
And we're going to go to deductibility so that companies can send people to restaurants. I think it'll have a tremendous impact and maybe keep them open. In a tweet on Wednesday, Trump reiterated the call for deductibility by businesses on restaurants and entertainment, saying"they will all be saved!"
Congress must pass the old, and very strongly proven, deductibility by businesses on restaurants and entertainment. This will bring restaurants, and everything related, back - and stronger than ever. Move quickly, they will all be saved!
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