Treasury Official Won’t Rule Out Curb On Pass-Through Deduction

The Biden administration might still take action to curb a tax break for pass-through business owners, a Treasury official said Thursday.

Kimberly Clausing, deputy assistant Treasury secretary for tax analysis, said she “wouldn’t read much into the absence” of any action by the administration thus far on the Section 199A 20% deduction for pass-through businesses.

• Clausing was asked about the lack of action on the deduction in an interview by the Urban-Brookings Tax Policy Center.
• Any policies that haven’t shown up in the administration’s proposals “aren’t necessarily things that were rejected as bad tax policy,” Clausing said, adding ...