House Republicans are considering treating work benefits such as employer-provided transportation, free food and on-site gyms as a new source of taxable income to help pay for President Trump's tax cuts.
These tax proposals are still in the early stages and other aspects of Trump's tax promises would help workers, such as tax breaks on tips, overtime pay and Social Security benefits.
The concept of taxing employee perks has been debated before in Congress and never made it far, but with the size of the deficit and Trump wanting trillions of dollars in expiring and new tax cuts, some budget pay-fors will need to be found, and this one would dip into workers' pockets.
Posted by John3262005
7 Comments
How do you even Tax this? Flat tax per day?
>employer-provided transportation, free food and on-site gyms as a new source of taxable income
Get wrecked, tech bros (I am remote so I don’t care . . . they can’t tax being remote, can they?)
Hot take: This would be a relatively progressive tax. Most of these perks are reserved for upper middle class or upper class workers.
Basically targeting a sector of the economy many conservatives despise. The college-educated workers of the professional class. It will not raise a meaningful amount of money. I bet the total cost of free fringe benefits like lunch, gym, and bus transport is a fraction of revenue raised by taxing tips and overtime.
It’s not a terrible policy, since one can argue that the savings employees get from their employer is income (money saved not buying lunch, etc.). But it will do next to nothing to make up the shortfall in tax revenue from tax breaks and will just upset many middle class workers. Plus most likely, companies would just remove these benefits instead of paying taxes on them.
You can’t even have a snack at work without the government taxing you. That’s a Republican proposal in 2025
I hate this fucking man so much.
Ah right after the required return to office I see.