Trump stands to save millions under new tax measure, experts say
Source: wash post
By Drew Harwell December 20 at 9:09 PM
President Trump, who won the White House on a wave of populist promises, will likely save millions of dollars, thanks to Congress’s approval of a tax plan he pledged was designed for the middle class.
Trump, who said he would be a “big loser” if the bill passed, stands to gain immensely from the Republican tax overhaul, including through a lower top tax rate and lucrative deductions for top-earning households, according to attorneys and tax experts who reviewed the final bill.
Trump could also take advantage of benefits that will lift specific business sectors, including a last-minute tax deduction that helps many owners of high-value commercial real estate, the industry where he first made his fortune.
The tax plan’s transformation into law crystallizes the contrast between Trump’s populist rhetoric and the private fortune he made by marketing condos, hotels and golf resorts to a wealthy clientele. ..................................................
The Republicans’ first legislative triumph of 2017 will ensure a financial windfall for the president and his family in a way that is virtually unprecedented in American political history, experts said.
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Read more: https://www.washingtonpost.com/politics/trump-stands-to-save-millions-under-new-tax-measure-experts-say/2017/12/20/6d29a4c4-e59a-11e7-833f-155031558ff4_story.html?tid=sm_tw&utm_term=.3b98ec709bdf
Gomer W Howard Retweeted
Dan PfeifferVerified account @danpfeiffer
12h12 hours ago
Dan Pfeiffer Retweeted Rachana D. Pradhan
It is pretty gross to watch a bunch of millionaires pat themselves on the back for giving themselves and their friends a huge tax cut while kids go without health care
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