Winners and Losers in the $80 Billion Bipartisan Tax Plan

The business community and developers of affordable housing emerged as some of the biggest winners of the bipartisan tax proposal, while New York and California Republicans, Venmo and its users, and island territories lost big.

Senate Finance Chair Ron Wyden (D-Ore.) and House Ways and Means Chair Jason Smith (R-Mo.) released a nearly $80 billion package that revives some expired business tax breaks and also boosts the child tax credit. The plan also includes an expansion of the low-income housing tax credit, a Taiwan tax agreement, and a tax reporting requirement change for independent ...