Foreign media: Without legislation, Trump's team secretly provided large-scale tax cuts to super-rich corporations

Deep Tide TechFlow News, November 9th, according to Jintiao Data, the Trump administration has been secretly providing additional large-scale tax cuts to ultra-wealthy corporations. According to The New York Times, the U.S. Department of the Treasury has proposed regulations offering tax relief to private equity firms, cryptocurrency companies, foreign real estate investors, and other large corporations. For example, in October this year, the IRS issued new proposed regulations to benefit foreign investors in U.S. real estate. In August, the IRS proposed relaxing rules to prevent multinational companies from avoiding taxes by reporting duplicate losses across multiple countries. These announcements have not yet made headlines but have attracted the attention of accounting and consulting firms. Kyle Pomerleau, senior researcher at the American Enterprise Institute, stated, “The U.S. Department of the Treasury has clearly been implementing tax cuts outside of legislation. Congress decides tax laws. The Treasury is asserting greater authority over the tax code than Congress has granted, undermining this constitutional principle.”