May 9, 2019

ABC News: Trump Lobbied for Tax Loopholes in the 1990s

media mention

The sweeping, bipartisan law that Trump railed against was popular in both Democrat and Republican circles, as it got rid of numerous loopholes, reduced tax-code chicanery and lowered tax rates across income brackets.

“The 1986 tax law was the gold standard for tax reform because it removed loopholes and simplified the tax system,” said Steve Wamhoff, director of federal tax policy with the Institute on Taxation and Economic Policy.

“The real estate industry lobbied Congress to bring back loopholes that applied just to them, and they succeeded,” Wamhoff said. “Donald Trump was part of that.” Read more