It Begins: The Impeachment Trial of Donald Trump [LIVE VIDEO]

Eclectic Cyborg1/16/2020 3:55:12 pm PST

re: #218 Barefoot Grin

I haven’t read the article yet, but raise your hand if your first thought was “now do Trump.”

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May not be too long…

The program, created by the 2017 GOP tax bill, allows investors to defer taxes on capital gains if they’re reinvested in a real estate project or business located in one of nearly 9,000 qualified census tracts. Any capital gains from those investments will be untaxed if they’re held for more than 10 years, a tax giveaway worth $7.7 billion through 2022, according to the Joint Committee on Taxation.

Among those who have moved to take advantage of the program are the investment firm Cadre, part-backed by Trump’s son-in-law and adviser Jared Kushner, which solicits investments for “opportunity zones.” CNN also reported in 2018 that Kushner’s family real estate firm Kushner Companies could also benefit from the program.

The company and associated entities, which already owned properties in a New Jersey area that was designated this year as an opportunity zone, had at the time spent more than $13 million buying new properties that would be eligible for the tax break, according to Monmouth County public records.