corporate tax is already so low that we shouldn't have this kind of deduction at all: make corps pay income tax like citizens. there can still be deductions, but the idea of writing off all the costs of doing business is like people being able to write off rent, food, clothing, transport, etc.
My personal opinion - make corporate taxes go to 0% and shift tax burden to wealth and billionaires. Also, lower taxes on w2 income.
Counterintuitive, but I think that would bring offshore corporate bank accounts bank on-shore and encourage hiring.
Also, heavily penalize stock buybacks when corp tax rate goes to 0%.