TOPLINE: Whip Scalise is committed to exposing President Biden and Congressional Democrats’ giveaways to radical special interest groups and the far-left provisions buried in their 2,135-page big government tax-and-spending spree. There are many “hidden gems” that Democrats are handing the socialists, and Whip Scalise will be highlighting them throughout the next few weeks.

 

$2.5 Billion Tax Break for Wealthy Trial Lawyers

 

Section 138518 would allow plaintiffs’ attorneys to deduct out-of-pocket litigation costs in contingency fee cases immediately instead of waiting for the conclusion of the litigation.

 

 

This major tax break for wealthy trial lawyers will be subsidized by the American taxpayer, lowering the cost of litigation, and fueling more frivolous lawsuits.

 

The Joint Committee on Taxation estimates that this trial lawyer handout would cost approximately $2.5 billion over the next ten years.

 

 

BOTTOM LINE: Democrats’ radical reconciliation package will help subsidize costs for trial lawyers, lowering the costs of speculative lawsuits. President Biden, Speaker Pelosi, and their liberal lieutenants are more concerned with sneaking in pork for their wealthy friends instead of addressing the needs of struggling American families, workers, and small businesses.