Democrats give trial lawyers an incentive to sue businesses

 Washington Examiner:

Sometimes lawsuits are necessary to uphold the rights of a plaintiff. Sometimes, they are needed to redress serious wrongs. But as an economic activity, "more lawsuits" is just about the last thing the tax code should be encouraging or incentivizing.

As usual, someone forgot to wake President Joe Biden and tell him.

Trial lawyers, who have long invested in Biden and other Democrats, bought themselves a provision in the massive spending bill that Democrats moved through the House last week. Tucked deep within its pages is a huge tax break that slip-and-fall trial lawyers and their allies have been trying to force into law for more than a decade. It would allow them to write off the costs of contingency litigation — for example, expert witnesses — upfront. Currently, as with other business ventures, trial lawyers recoup their expenses by winning judgments and settlements that cover them, or else they write off the losses when they lose the case.

According to the Joint Committee on Taxation, this special-interest tax break will let contingency lawyers off the hook for $2.5 billion in tax revenue over 10 years. That may not sound like a lot, but consider where the money is going. It will be used to fund a dagger pointed straight at the heart of the nation's economy.

Specifically, taxpayers will be underwriting what are currently considered marginally dubious lawsuits against businesses.

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There is more.

Trial lawyers have long been heavy contributors to the Democrat party and this tax break is one of the rewards they get.  Businesses and the jobs they create will be the losers.