In addition to the praise and worship Republican lawmakers lauded on Donald Trump yesterday after passing the tax law – his first legislative win by the way, Donald Trump and his family will also draw huge benefits when the law goes into effect in 2018.
The Washington Post reports that 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.