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Sen. Reed: No Tax Breaks For Corporate Misconduct
November 13, 2017
WASHINGTON, Nov. 14 -- The office of Sen. Jack Reed, D-R.I., issued the following news release:

As the U.S. Senate gets set to consider tax reform, U.S. Senators Patrick Leahy (D-VT) and Jack Reed (D-RI) today introduced legislation to close a tax loophole that allows corporations to write off the punishment they receive for egregious wrongdoing as an "ordinary" business expense.

Punitive damages are imposed rarely, and only on bad actors whose reckless miscon . . .

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