No Tax Breaks for Abortion Travel or Child Gender Transition Costs
This new bill aims to prevent companies from deducting expenses related to employee travel for abortions and gender transition procedures for their minor children from their taxes. This means businesses will not be able to treat these expenditures as business expenses, potentially impacting the scope of employee benefits offered.
Key points
Companies will not be able to deduct employee travel costs for abortions from their taxes.
Companies will not be able to deduct costs for gender transition procedures for employees' minor children from their taxes.
These changes apply to expenses incurred in tax years beginning after the bill becomes law.
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