14 Other U.S. Senators Set To Reap Financial Rewards From GOP Tax Plan

Senator Orrin Hatch (R-Utah)Gage Skidmore/Flickr

Sen. Orrin Hatch, who admitted to authoring the real estate income provision, will also benefit from its inclusion.

Senator Orinn Hatch (R-UT), who recently admitted to being the author of the real estate income provision some have dubbed the "Corker kickback", is set to benefit from the measure himself - along with more than a dozen other congressmen and the president.

In all, 14 Republican senators (see list below) hold financial interests in 26 income-generating real-estate partnerships—worth as much as $105 million in total. Those holdings together produced between $2.4 million and $14.1 million in rent and interest income in 2016, according to federal records.

A number of U.S. senators stand to profit from a special real-estate tax provision in the GOP tax bill. (IBT)Photo: Alex Kotch, International Business Times

Trump has repeatedly made the claim that the Republican tax bill will hurt him personally and cost his friends "a fortune", but the details do not bear out such a conclusion.

Trump...could also see a nice profit from the last-minute addition to a bill already stuffed with corporate giveaways. As IBT notes, Trump "owns or directs over 560 companies" that will get a tax cut thanks to the real estate pass-through provision.

As the lead editorial in Tuesday's New York Times notes, "The tax bill's generosity toward real estate titans stands in stark contrast to its stinginess toward the average wage earner as well as its very real damage to taxpayers in high-cost states."