Corker had no role in drafting tax change he could benefit from, Senate finance chair says
Corker, a former
According to a report by the International Business Times, Republican leaders added a last-minute provision to the bill that would reduce taxes on income from real-estate LLCs. Corker, who owns a large amount of commercial real estate, made up to
The change would allow real estate businesses to take advantage of a new tax break that's planned for partnerships, limited liability companies and other so-called "pass-through" businesses.
"This last-minute provision will significantly benefit the ultra-wealthy real estate investor, including the president and lawmakers on both sides of the aisle, resulting in a timely tax-reduction gift for the holidays,"
Although Corker could benefit from the change, the
"To the contrary (of reports indicating Corker may favor the cut in real estate partnership taxes), virtually all the concerns you had raised in the past about the treatment of pass-through businesses in tax reform were to voice skepticism about the generosity of various proposals under consideration," Hatch said in a letter to Corker today. "It takes a great deal of imagination -- and likely no small amount of partisanship -- to argue that a provision that has been public for over a month, debated on the floor of the
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This story was updated
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