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Corker asks how real estate provision ended up in tax bill

Corker asks how real estate provision ended up in tax bill
© Greg Nash

Sen. Bob CorkerRobert (Bob) Phillips CorkerThe Memo: Trump in a corner on Saudi Arabia Corker: US must determine responsibility in Saudi journalist's death Dem senator calls for US action after 'preposterous' Saudi explanation MORE (R-Tenn.) sent a letter on Sunday to Sen. Orrin HatchOrrin Grant HatchGOP leaders hesitant to challenge Trump on Saudi Arabia Congress should work with Trump and not 'cowboy' on Saudi Arabia, says GOP senator US to open trade talks with Japan, EU, UK MORE (R-Utah) asking how a provision that would potentially benefit real estate owners, including Corker, made it into the final version of the Republican tax-reform bill.

“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.

The International Business Times reported Saturday that a provision added during the reconciliation process allows owners of income-producing real estate to take advantage of a 20 percent deduction for "pass-through" entities. The Senate version of the tax bill included rules that allowed the deduction to be claimed only by businesses that pay their employees significant wages.

The provision would potentially benefit Corker and President TrumpDonald John TrumpDemocrats slide in battle for Senate Trump believes Kushner relationship with Saudi crown prince a liability: report Christine Blasey Ford to be honored by Palo Alto City Council MORE, among others.

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Corker said Sunday he did not have a role in writing the legislation and asked Hatch, the chairman of the Senate Finance Committee, to explain how the provision made it into the final bill. He suggested it was in the House’s version of the tax bill and remained in the final version after a conference committee sought to reconcile the House and Senate tax bills.

Corker announced late last week he would support the final Republican tax-reform legislation, saying he believes the country is better off with it than without it.

He voted against the Senate version of the tax bill, citing concerns that it would add to the national debt.