Misguided Journalists Mistake CARES As Tax Relief for the Rich

Shortly after the passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, some reporters seized on a provision that harmonized tax treatment of net operating losses, declaring it a “bonanza” for the wealthy. Missed (or conveniently ignored) by these same reporters is the fact that both versions of relief packages introduced by House Democrats include provisions that are substantially similar to what became law in the CARES Act.

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