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Thread: Rep's Tax Reform Amendment Prohibits Write-Offs for Sexual Abuse Settlements

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    Rep's Tax Reform Amendment Prohibits Write-Offs for Sexual Abuse Settlements

    Mind Boggling this was ever allowed to be deducted

    n Tuesday, Nov. 14, Rep. Ken Buck offered an amendment to H.R. 1, the Tax Cuts and Jobs Act, prohibiting tax subsidies for legal settlements related to sexual assault or sexual harassment.“America has been watching Hollywood for decades, but not watching closely enough. Behind the red carpets and glitzy premieres is a culture of deceit and depravity. As Congress rethinks our tax code, we need to rethink the way we treat Hollywood by eliminating the business expense deduction for hush money associated with sexual assault and sexual harassment cases,” Buck said in a statement announcing the amendment:
    "When companies pay settlements and legal fees in the regular course of their business, these costs can typically be written off as ordinary and necessary business expenses. In allowing these businesses to expense the cost of resolving legal issues, the tax code makes it less financially costly for the business to engage in or allow activity that draws lawsuits. In Hollywood, this means that when companies settle a sexual harassment or sexual assault case and then deduct that settlement from their tax liability, the American taxpayer effectively subsidizes those companies’ costs of covering up the illegal behavior.
    "Rep. Buck’s amendment would eliminate business expensing for legal settlements, fines, fees, and legal expenses associated with sexual assault and sexual harassment."
    ....
    Original Article, "Congressman Calls for Tax Reform to Prohibit Tax Breaks for Media Sexual Abuse Settlements," published Nov. 8, 2017:
    Any tax reform bill should include language to prevent “the moral rot within Hollywood and the entertainment industry” from writing off settlements paid to victims of sexual abuse, Rep. Ken Buck (R-CO) said Tuesday in a letter to House Ways and Means Chair Kevin Brady (R-Texas).
    “I am concerned that federal tax policy unwittingly rewards the cover ups of these offenses,” Rep. Buck writes, calling for addition of specific tax bill language to ban the practice:
    "The settlements that have been paid out to victims could very well qualify as business expenses and thus be deducted from the taxes of these media companies."
    “I ask that you include language in the tax reform proposal that would end this practice. Under no circumstance should our tax code subsidize the efforts to conceal this abuse.”



    https://www.cnsnews.com/blog/craig-b...se-settlements
    LETS GO BRANDON
    F Joe Biden

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    Crepitus's Avatar Senior Member
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    Kinda amazed that it is needed, but I can't say I think it's a bad thing.
    People who think a movie about plastic dolls is trying to turn their kids gay or trans are now officially known as

    Barbie Q’s

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    Of course its a good thing, why should taxpayers pay for them sexually harrassing people and covering it up. Every member of congress that is protected needs to be exposed
    LETS GO BRANDON
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    Good move.
    "Those who produce should have, but we know that those who produce the most — that is, those who work hardest, and at the most difficult and most menial tasks, have the least."
    - Eugene V. Debs (1855-1926), five-time Socialist Party candidate for U.S. President

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    I find it sad that this has to be added to a law, as I feel it is sad that it was allowed in the first place..... No tax subsidies for legal settlements where any criminal wrong doing is involved should ever have been allowed sex related or not.
    "The powers of the federal government are enumerated; it can only operate in certain cases; it has legislative powers on defined and limited objects, beyond which it cannot extend its jurisdiction." James Madison 1788

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    The left antifa have some legitimate issues, when they rail on the powerful screwing people, they are right. What they are WRONG ABOUT. Is its just not minorities the majority of white people get F'ed right along with everyone else.
    LETS GO BRANDON
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    The government also needs to eliminate the shush fund that pays out lawsuits on sexual misconduct of our politicians that is paid by tax payers. Write offs for sexual abuse expenses with the IRS is not true unless the money received from the government in hush money must be reported as income. The list of people accused of misconduct and the accusers payout should be public information.

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