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David Schweikert: “Expiring 2025 tax provisions, pass throughs. Any of you have…”

Featuring: David Schweikert, Republican | U.S. House, Arizona, District 1

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'A Scam': David Schweikert Lays Waste To President Biden's Newly Announced Budget

Published | Video Starts at 15:51

It was talked about behind that microphone last week. They're already relying on your taxes going up. So let's walk through a couple other things so people understand. Expiring 2025 tax provisions, pass throughs. Any of you have an LLC, you know, a family business, a side hustle, you have a little llc, you make some income, you do some consulting. Maybe you're a fancy subchapter S corporation, maybe you're a partnership, maybe you're one of those employee owned type businesses. You understand current status, you get to deduct equal to 20%. Yeah, that was trying to find a way to make it equal. So you had the same fairness for subchapter C corporations or chapter C corporations. That's gone. (15:51–16:19)

CLAIM

Asserts that pass-through entities currently receive a 20% deduction, which will expire.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.


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