Most GOP Senators Benefit Hugely from Their Tax Cut Swindle

Read more on this subject: TAXES: Federal
Opinion Column by Stephen Lendman
Most GOP Senators Benefit Hugely from Their Tax Cut Swindle

by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)

Senator Orrin Hatch took credit for inserting an 11th hour provision into the GOP tax cut bill, benefitting investors in limited liability real estate holdings (LLCs).

He, Trump, Jared Kushner, Speaker Ryan, other GOP House members and most Republican senators stand to reap a huge windfall from the provision.

According to former congressional Joint Committee on Taxation chief of staff Edward Kleinbard, the provision "rewards owners of capital intensive businesses, like wealthy real estate investors."

Hatch's financial disclosures show his wife owns a real estate LLC worth around $500,000. She'll benefit greatly from the new provision. 

Real estate firms donated generously to Hatch's 2012 reelection campaign. His provision amounts to payback, benefitting his wife as well as his corporate contribu
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