Sen. Carl Levin (D-MI) took aim at Facebook in his speech to the Senate floor on Wednesday, calling upon Congress to pass a bill he introduced that would close a tax loophole that allows companies going public to take up a massive tax deduction for shares sold to early investors and founders. In the case of Facebook, Levin said the company could stand to receive a $3 billion deduction once it begins trading.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=100931