President Trump has long seized on the tax break as a way to revive the restaurant industry. But economists have panned it as ineffective and largely benefiting the wealthy.
The draft language of the emergency coronavirus relief package includes a tax break for corporate meal expenses pushed by the White House and strongly denounced by some congressional Democrats, according to a summary of the deal circulating among congressional officials and officials who are familiar with the provision.
The officials spoke on the condition of anonymity to describe a proposal that had not yet been publicly released.
President Trump has for months talked about securing the deduction — derisively referred to as the “three-martini lunch” by critics — as a way to revive the restaurant industry badly battered by the pandemic. Continue reading.