KDVR FOX 31 Denver reports on a proposal from a Colorado Republican for which we think there ought to be unanimous support, in light of headlines coast to coast and flyover states too–but for one little problem:
Whether it be Bill O’Reilly, Harvey Weinstein, Roy Moore or Steve Lebsock, the topic is dominating Colorado airwaves.
Now Congressman Ken Buck says it’s time to end the practice of businesses being able to deduct harassment settlements from their taxes.
“Right now a business can write that off as an ordinary and necessary business expense which is wrong,” Buck told FOX31 political reporter Joe St. George.
The idea that a corporation can build harassment settlements into the cost of doing business to the extent that they can get a tax break for them might come as a rude shock to many readers, and we of course have no idea when this particular provision may have been inserted into the tax code.
We assume plenty of dudes through the years found it useful. It’s good to see that time may finally be past.
With that said, there is a problem in the case of Rep. Ken Buck’s proposal with implementation:
Buck has written a letter to the House Ways and Means Committee chairman asking for language to be included in the latest tax reform debate on Capitol Hill.
That’s right–unfortunately, this no-brainer of a tax deduction to repeal is going to get bundled with a whole bunch of other and in many cases stupid alterations to the tax code, an elusive “pay-for” in the GOP’s budget-busting tax cut plan that–while we certainly wouldn’t mind seeing this particular pay-for enacted–isn’t worth the widespread harm certain to ensue when the hole these cuts create has to be filled. As a general guide, that is usually right after the opposing party retakes power.
If Buck keeps this idea alive in the entirely possible event the tax bill tanks, or fails to include this provision at all, we’ll circle back to thank him.
As of now, we’d rather see a “clean” harassment tax break repeal.