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The Surprise Winners From Biden’s $2 Trillion Spending Bill: Wall Street and Tobacco Companies
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WASHINGTON—Business groups succeeded in blocking billions of dollars in proposed tax increases once sought in President Biden’s roughly $2 trillion spending package after a flurry of lobbying to change the bill.
The legislation that cleared the House on a 220-213 vote included wins for big banks, tobacco companies and private-equity firms, as well as a broad coalition of companies that blocked Mr. Biden’s campaign pledge to reverse corporate-tax cuts enacted under President Donald Trump.
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