The Republican tax plan has a generous loophole for golf-course owners. Coincidentally, President Donald Trump owns a number of golf courses.
Republican lawmakers pushing to close dozens of tax loopholes have left open one that’s been good to President Donald Trump: the golf break. With Senate Republicans expected to unveil the outline for a sweeping tax rewrite on Thursday, a lucrative break for golf-course owners -- including the president -- remains firmly in place in the House version of the measure. The Obama administration estimated in 2014 that closing the controversial loophole would save more than $600 million over a decade.
Keeping this loophole open will be financially beneficial for the Trump Organization.
While Republicans are eliminating many write-offs, the House version of the bill allows golf-course owners to claim deductions for promising never to build on their links. The Trump Organization, which owns a dozen courses in the U.S., has taken advantage of the break in the past, using a law that’s supposed to help preserve open space.
A tax law professor at the New York University School of Law says:
“The commercial real estate industry is looking at this and saying, ‘I love it,’” said Daniel Shaviro, a tax-law professor at New York University. “Despite his efforts to prevent us from knowing about his tax returns, it’s clear this is a huge plus for Trump.”