The $2.25 trillion proposal would pump money into transportation, renewable energy, manufacturing, and other areas of the economy—funded by undoing corporate tax breaks passed during the Trump administration.
Complex administration of the tax deferral, and the prospect of having to double withholding from employee paychecks early next year, mean no major private businesses have taken advantage of the holiday.
Businesses that moved offshore for tax purposes might still get Federal Reserve help dealing with Covid-19, raising questions about the ultimate purpose of Fed programs.