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Analysis: Trump, Family Could Save $1.1B Under GOP Tax Plan

Analysis: Trump, Family Could Save $1.1B Under GOP Tax Plan
(Mandel Ngan/Getty Images)

By    |   Thursday, 16 November 2017 05:46 PM

A new analysis claims President Donald Trump could save more than $22.5 million from the proposed tax cuts — and his family stands to save as much as $1.1 billion.

The study commissioned by NBC News suggests that the Republican Party's tax proposal will benefit the wealthy.

Using Trump's 2005 tax return and his estimated net worth, tax expert Maury Cartine concluded that Trump and his wife Melania would save $22,571,795.

Further, the erasure of the estate tax would amount to Trump's heirs saving $1.1 billion by 2024. That figure is based on Trump's estimated net worth of $2.86 billion, according to Bloomberg.

"Provided that Donald and Melania are still living at that time, the combined estates of Donald Trump and [his wife] will save $400 million of federal estate tax for every billion dollars of net assets," Cartine told NBC.

The House passed its version of tax reform in a 227-205 vote Thursday. The Senate is looking at a slightly different version of the bill and has not yet put it up for a floor vote.

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A new analysis claims President Donald Trump could save more than $22.5 million from the proposed tax cuts — and his family stands to save as much as $1.1 billion.
analysis, donald trump, trump family, save money, gop, tax plan
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2017-46-16
Thursday, 16 November 2017 05:46 PM
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