"You entered the pandemic with dozens of U.S. high-grade companies carrying around $1 trillion of debt in aggregate, pledging to pay down debt or grow their way into lower leverage." That's going to be hard in this economy.
Complex administration of the tax deferral, and the prospect of having to double withholding from employee paychecks early next year, mean no major private businesses have taken advantage of the holiday.
Proposal would close what the Biden campaign calls "loopholes" in Trump tax law, with goal of encouraging businesses to bring operations back to the United States.