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Nvidia Gains, Hospitals Hurt: Congress Winners and Losers

This year, Congress passed the $4 trillion Trump tax cut package that extended 2017 breaks and included $150 billion in new defense spending.
Heavy lobbying and congressional allies beat back attempts to scale back the corporate state and local tax deduction and to raise a stock buyback tax, preserving breaks for private equity and oil and gas companies.
Congress approved a defense bill $8 billion above the White House request, benefiting Anduril Industries Inc., Palantir Technologies Inc. and Boeing Co., while a Pentagon repair plan without contractors was defeated.
Big insurers face near-term customer losses as enhanced Obamacare premium tax credits expire this month, while a $50 billion bailout for rural hospitals won't offset Medicaid cuts, forecasting more uncompensated emergency care as millions of Americans lose coverage.
Renewable firms Sunnova Energy International Inc., Solar Mosaic Inc. and Pine Gate Renewables LLC filed for bankruptcy this year after tax credits ended, while Congress passed stablecoin legislation benefiting crypto and threatening banks.

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Nvidia gains, Hospitals hurt: Congress winners and losers

The Republican-controlled Congress has been very good to most of corporate America this year. Foremost among the boons is a $4 trillion tax cut package that extended and added generous breaks for businesses large and small. Read more...

20 hours ago·Vancouver, United States

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