WASHINGTON, July 29 -- Sen. Elizabeth Warren issued the following press release:
U.S. Senators Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, and Angus King (I-Maine) wrote to the nonpartisan Joint Committee on Taxation (JCT), seeking information about the One Big Beautiful Bill Act (OBBBA)'s expansion of the Qualified Small Business Stock (QSBS) exclusion, which is projected to cost taxpayers $17.2 billion. The request comes roughly one year after Donald Trump and Republicans in Congress fast tracked the bill's passage.
"[T]he QSBS exclusion is riddled with loopholes that are regularly exploited by the very wealthy...Given [the] flurry of recent QSBS-related policymaking, it is more important than ever for Congress...