Marc Gerson, former majority tax counsel to the U.S. House of Representatives Committee on Ways and Means, commented on alternatives for levies on businesses given President Biden's lack of Senate Democratic backing for his proposed increase in the U.S. corporate tax rate. One possibility is to eliminate tax breaks which easily could cover the $540 billion corporate-tax hole. Even paring back some of the benefits creates some problems, Gerson said. Curbing them picks winners and losers based on industry, whereas an across-the-board corporate-rate increase is a more evenly distributed tax hike, he said. "There's the potential for uneven results and it's really challenging."