How Trump's Rich Cabinet Members Could Save Millions Thanks To A Little-known Tax Break

hcuccinello@businessinsider.com (Hayley Cuccinello), Business Insider
Tue, 11/19/2024 - 11:45am

Rob Kim/Getty Images for The Cantor Fitzgerald Relief Fund; Arturo Holmes/Getty Images; Chelsea Jia Feng/BIDonald Trump's Cabinet shortlist includes billionaires and wealthy execs.These appointees can defer millions in taxes thanks to a little-known loophole.Here is how the policy works and why lawyers say it's justified.The Cabinet for Donald Trump's first term was the richest in US history.

Topics: you rob kim/getty images the cantor fund arturo holmes/getty images chelsea jia feng/bidonald trump's cabinet donald trump howard lutnick major trump ceo chris wright energy wall street ceo marc sachs ceo henry paulson george h.w bush economist bob willens columbia business school scott bessent kevin warsh morgan stanley reserve board jane lauder new york ed renn withersworldwide office government ethics penny pritzker hyatt the oge mark parthemer glenmede irs willens business insider the fitzgerald cabinet donald trump's trump in secretary commerce secretary ceo treasury treasury secretary apollo rowan bush renn rich millions little-known tax break taxes capital sell defer stock proceeds billionaire pay shares concentrated benefit lucrative heiress worth policy bonds assets role advantage private property firm condemned

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How Trump's Rich Cabinet Members Could Save Millions Thanks To A Little-known Tax Break

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