Whitehouse Introduces Bill to Eliminate Tax Breaks for Defamation Payments by Giant Corporations Like Fox News
July 27, 2023
July 27, 2023
WASHINGTON, July 27 -- Sen. Sheldon Whitehouse, D-Rhode Island, issued the following news release on July 26, 2023:
Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee, today introduced the Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act, legislation that would prohibit corporations with more than $10 billion in revenue from taking an income tax deduction for certain defamation payments totaling more than $500 million.
Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee, today introduced the Denying Expenditures for False Accusations with Malicious Effect (DEFAME) Act, legislation that would prohibit corporations with more than $10 billion in revenue from taking an income tax deduction for certain defamation payments totaling more than $500 million.