Page 3 - Pass Throughs News Today

Youre going to have say ta lot than that. one thing it very important for the farmers, the great farmers and the great small business owners that were forced to sell their businesses at bargain basement numbers. we have provided for the most part a state tax wiped out so they can keep their farms in the family. that to me is a very big factor. very big. this is -- this is going to mean companies are going to be coming back. you know, i campaigned on the fact that were not going to lose our compa...

Little bit of laughter or tittering in the background. i think the american people absolutely know, and frankly all of the senators who voted on this bill last night, those who voted in favor of it know there was this loophole put in for real estate pass-throughs and president trump has a host of those entities. >> i also want to ask you what seems to be a coordinated campaign against robert mueller and the investigation. we can see whats happening on the house side, the house intelligence commi...

One thing very important for the farmers. the great farmers and the great small business owners that were forced to sell their businesses at bargain basement numbers. we have provided for the most part estate taxes wiped out. they can keep their farms in the family. that is a very big factor. very big. [applause] this is going to mean companies are going to be coming back. i campaigned on the fact that were not going to lose our companies anymore. theyre going to stay in our country. and theyre ...

>> im not sure if hes done a side by side but i know there are a number of provisions that would negatively impact the president personally. >> we dont know what they are for sure. its impossible to know for sure because the president keeps his tax returns secret. key measures though will help the president, his family and his businesses like doubling the estate tax exemption on pass throughs. they make up the majority of the trump business empire. there are many tax goodies like reducing the ta...

Estate. that was the bulk of the taxes he paid that year, lowering the tax burden on pass throughs. pass throughs pay taxes through an owners tax return and make up the majority of the trump business order. commercial real estate for example, like reducing the tax on income from real estate investments and larger deductions on commercial property. and an interesting development emerging from the tax vote. bipartisan daca bill will be on the floor in january. >> flakes vote on taxes has been li...

By its tenth year,fá with thing scribbled on the side,ñr virtuay no hearings, the process is terrible. its again, the only people are it before anybody else does. thats exactly the opposite of what president trump talked é[upthatsjf going to disappoin workers. it doesnt help working jf families. >> i want groover to respond. you talk about the other bill the last-minute change in the planeipá specifically benefits real estate businesses as e1w3w. that wasnt in the camp bill was kd8>> no, it ...

First the house and then the senate on the plan. it could pass by this time tomorrow. and our next guest says its a great thing for the american people. joining us now is the founder and presidents of americans for tax reform, the ultimate tax authority. grover norquist. grover, good morning to you. >> hey, steve. good to be with you. steve: how excited are you? not since 1986 has america really seen sweeping tax reform. >> yeah. this is a huge step forward. when they take the business taxes fro...

Bill, but democrats appointed to the last minute change in the plan that specifically benefits real estate businesses as well. that wasnt in the camp bill was it? >> no, it was in the house bill. theres a house version of how you deal with pass throughs and a senate version. and as they went through they accepted the house version dealing with real estate rather than the senate version. and then they turned around and said some senator slipped in it, which was a damnable lie, and they had to kno...

President referred to a tragedy making a political point. at the pulse nightclub attack, he referred radical islam and not sure those would have saved those attacks or if infrastructure improvements would have done anything to e prevent derailment. two votes and the signature only hurdle left to clear before the first overhaul in decades becomes reality. the house set to vote on whats shaping up to be the only significant legislative achievement of the trump administration so far. vice preside...

Republicans, they will [ inaudible ] the day they supported this bill. >> one point youre right -- >> one point? >> and that i will grant you is that they will regret it because actually where youre wrong and right is that -- >> wrong and right. >> republican donors are getting slammed. republican donors who live on the coast in california, the really deep pocketed ones who fund the presidential campaigns, all the independent expenditures -- >> high tax areas. >> the states that have the s.a.l.t...