Senators’ bill would end tax break on stock options

A new bill from a pair of Democratic senators would eliminate a tax break on corporate stock options.

The bill was introduced July 15, 2011, by Sen. Carl Levin, D-Mich., and Sherrod Brown, D-Ohio. It would end the ability for corporations to deduct expenses for stock options from their taxes at greater amounts than the expenses in their financial statements. The measure would reduce the federal budget deficit by $24.6 billion over 10 years, according to the Joint Committee on Taxation.

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