United States

The USD858 billion tax-cut reform proposal moving its way through the U.S. Congress includes up to USD55 billion worth of benefits to various industries, including Caribbean distilleries and Hollywood film producers, the Washington Post says. The legislation focuses primarily on extending Bush-era tax cuts for another two years and extending unemployment benefits, among other large-scale spending measures, but it includes various benefits and tax breaks for numerous influential U.S. industries, the newspaper explains. Among the exepcted recipients of these benefits are large oil and gas companies, leading technology firms and rum-makers in the U.S. Virgin Islands and Puerto Rico.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.