Tags: Sen. Bob Corker | Sen. Orrin Hatch | tax reform | real estate

Corker Wants Answer About Real-Estate Provision in Tax Bill

Corker Wants Answer About Real-Estate Provision in Tax Bill
Sen. Bob Corker (Getty Images)

By    |   Sunday, 17 December 2017 08:34 PM

Sen. Bob Corker, R-Tenn., wrote a letter to Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee, asking how a certain real estate provision ended up in the final tax-reform bill before Congress, The Hill reported Sunday.

The provision could benefit real estate moguls, including Corker, by allowing owners of income-producing properties to take advantage of a 20 percent deduction for "pass-through" entities. The version passed by the Senate allowed for deductions, but only by businesses that paid employees a significant wage, the article explained.

"Because this issue has raised concerns, I would ask that you provide an explanation of the evolution of this provision and how it made it into the final conference report," Corker wrote.

Corker said Friday he would support the final version of the tax-reform legislation, calling it a "once-in-a-generation opportunity."

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Sen. Bob Corker, R-Tenn., wrote a letter to Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee, asking how a certain real estate provision ended up in the final tax-reform bill before Congress, The Hill reported Sunday.The provision could benefit real estate...
Sen. Bob Corker, Sen. Orrin Hatch, tax reform, real estate
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2017-34-17
Sunday, 17 December 2017 08:34 PM
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