MSNBC anchor Stephanie Ruhle reported on Tuesday that the Trump family and its associates are trying to game the federal Opportunity Zone program, which is meant to help low-income neighborhoods attract investment, to further enrich themselves.
Ruhle called out Trump’s son-in-law Jared Kushner, who has invested in one such area.
“The Kushner companies are investing big in an opportunity zone in New Jersey that, oddly enough, is beachfront property. Look how beautiful that is,” Ruhle said, cutting to shots of the magnificent New Jersey shore.”Certainly not a downtrodden area. And that area is all within the designated zone for these big old tax breaks.”
Ruhle also called out Trump associate and real estate developer Richard LeFrak, who has a $4 billion property in an opportunity zone in Miami.
“Here’s what I want you to pay attention to: this development, he started it several years ago,” Ruhle said. “Because the project’s not done and they’re still investing, he’s going to get massive tax benefits. That’s called a windfall.”
Ruhle named other Trump-owned developments located in opportunity zones, including a hotel in Mississippi and a golf course in New Jersey.
“With the right maneuvering, this existing property, that means they could reinvest, do some upgrades. It could benefit from these big old tax breaks,” she said. “This is exactly why we insist our leaders divest and disclose.”
Watch the video below.
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