Donald Trump's proposal to eliminate the federal estate tax would provide his own family with a $7.1 billion windfall, according to moderate Democratic think tank.
The GOP presidential nominee, in
releasing his
tax plan last September, declared it would "cost me a fortune." However,
Third Way says its analysis shows otherwise.
"The staggeringly high value of the tax cut for the Trump dynasty alone carries the same price tag as multiple high-value national priorities," its analysis states, including for education and cancer research.
Trump's initial plan was blasted for expanding the deficit by an estimated $10 trillion in a decade, and though
Trump and his economic adviser are working on revisions, they haven't explicitly said they're targeting the estate tax,
The Hill reports.
The think tank came up with the $7.1 billion figure by estimating that Trump's estate would be valued at $17.7 billion in 2030, the year actuarial tables estimate the real estate mogul's family would inherit the money.
Third Way calculated that Trump's estate, minus an exemption for $15 million of it, would be subject to a 40-percent tax if the estate tax is not repealed.
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