The Trump administration is planning to implement new tax guidelines to help large corporations obtain more tax breaks, particularly benefiting industries such as technology and pharmaceuticals significantly.

Main measures and beneficiaries:

According to reports, the U.S. Treasury is expected to release new tax guidelines as early as next week. This move aims to address a key issue: the 15% minimum tax imposed on companies with an annual income of at least $1 billion during the Biden administration has effectively hindered companies from fully applying for the generous R&D tax credits under Trump's tax reform. The new guidelines will remove this obstacle for businesses.

The main beneficiaries of this tax adjustment are those industries with substantial R&D investments, with technology, pharmaceuticals, and manufacturing expected to receive significant tax breaks. Specifically, companies like Qualcomm, Broadcom, and others may benefit from this. It is estimated that the retroactive R&D deductions allowed by Trump's tax reform could be worth as much as $67 billion for companies.

In summary, this move is a continuation and deepening of the Trump administration's tax reduction policies for businesses. While it may stimulate companies to increase their R&D investments, it has also sparked controversy as it mainly benefits large corporations and may increase the fiscal deficit.