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Sen. Corker says he had no role in tax bill revisions

Sen. Corker says he had no role in tax bill revisions”

"This bill is far from ideal, and left to my own accord, we would have reached bipartisan consensus on legislation that avoided any chance of adding to the deficit.But after great thought and consideration, I believe that this once-in-a-generation opportunity to make USA businesses domestically more productive and internationally more competitive is one we should not miss".

That's why it was inexplicable that Corker announced his support for the legislation that came out of conference.

Among the other beneficiaries of the new tax bill is Jared Kushner, who has also built his fortune in real estate.

Corker's last-minute opposition to an earlier tax bill ultimately sank the measure.

The Republican senator made the admission in an interview with the International Business Times, during which he also pushed back against claims that he switched his vote from no to yes after a provision was put in that he especially will gain from financially. He changed his position and backed the bill after the legislation was revised to expand the tax credit.

Corker's office said the senator "requested no specific tax provisions throughout the monthslong debate and had no knowledge of the pass-through provision in question".

The report notes that along with Corker, numerous bill's supporters and architects, including House Speaker Paul Ryan (R-WI) and President Donald Trump himself own millions in real estate LLCs.

The provision at issue would provide a special tax deduction on income made from so-called "pass through" entities, like real estate LLCs. It would specifically benefit real estate investors who operate "pass-through" businesses. "Despite potentially holding the fate of the entire tax bill in his hands, Corker told IBT that he has only read a short summary of the $1.4 trillion legislation". "I would need an accountant to explain it", he said in the second call. "I never saw the actual text", Corker said.

His story, however, hit a snag when Sen.

Sen. John Cornyn of Texas, the majority whip, on Sunday said a tax provision, which could personally enrich key Republican lawmakers, was added to the final tax bill as part of an effort to "cobble together the votes we needed to get this bill passed".

Stephanopoulos asked if the language was added to benefit Corker.

Now Corker is in the hot seat. I had no knowledge of this and would have no knowledge of it except for you guys are calling me about it. Final votes are expected next week. Meanwhile, #CorkerKickback is trending on Twitter.



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