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Jared Kushner’s family is exploiting a Trump tax break intended to help poor neighborhoods

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The family of Trump son-in-law Jared Kushner is taking advantage of a tax break in the 2017 Trump tax cut that was designed to spur investment in low-income communities.

Bloomberg reports that Kushner Companies has been benefiting from a change in U.S. tax law that designates certain economically distressed areas as “opportunity zones” for investors and developers.

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But Pier Village — the New Jersey-based “opportunity zone” where the Kushners are developing property — is not particularly economically distressed, and Kushner’s family is not building affordable housing for low-income residents.

“Pier Village promotes itself as a ‘jewel on the New Jersey coast,'” Bloomberg writes. “At a shoreline property built by Extell Development Co. in partnership with Kushner Cos., 786-square-foot one-bedroom apartments are being marketed for as much as $2,765 a month. At an adjacent development site, Kushner Cos. is constructing a 72-room luxury hotel.”

Under the new tax law, Kushner Cos. can avoid paying capital gains taxes altogether on profits from these projects as long as they own them for at least ten years.

Since Pier Village was designated as an “opportunity zone,” the Kushners have scooped up multiple properties that will help them score tax breaks under the law, including a 24-room Bungalow Hotel that cost $9 million and two single-family homes that together cost more than $4 million.

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Read Bloomberg’s whole report here.


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Ex-AG Matt Whitaker ‘pretty much acknowledges abuse of power’ in Fox News interview

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The former acting Attorney General of the United States argued that presidential abuse of power is not a crime during a Tuesday evening appearance on Fox News.

Abuse of power is not a crime,” Matt Whitaker told Fox News personality Laura Ingraham.

Tufts University Professor Daniel Drezner was fascinated by the admission.

"Interesting that Whitaker pretty much acknowledges abuse of power but doesn’t think it’s egregious," Drezner noted.

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2020 Election

‘Abuse of power is not a crime’: Former acting AG Matt Whitaker makes a brazen claim on Fox News

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Former acting Attorney General Matt Whitaker told a Fox News audience that it is not a crime for President Donald Trump to abuse the power of his office.

Whitaker made the comments while complaining about "global elitists" during an interview with Laura Ingraham.

"What evidence of a crime do you have?" Whitaker asked, despite Trump, acting White House Chief of Staff Mick Mulvaney and defense lawyer Rudy Giuliani all admitting Trump sought foreign election interference to help his struggling re-election campaign.

"Abuse of power is not a crime," the nation's former top law enforcement office argued.

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2020 Election

Joe Biden apologizes for ‘partisan lynching’ comments about Bill Clinton’s impeachment

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Former Vice President Joe Biden on Tuesday apologized for comments he made saying impeachment could be viewed as a "partisan lynching."

The comments from a 1998 interview were reported after Biden said it was "abhorrent" and "despicable" for President Donald Trump to refer to impeachment as a lynching.

"Even if the President should be impeached, history is going to question whether or not this was just a partisan lynching or whether or not it was something that in fact met the standard, the very high bar, that was set by the founders as to what constituted an impeachable offense," Biden said in 1998.

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