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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.

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.

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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.

Read Bloomberg’s whole report here.

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2020 Election

Democrats are on the verge of setting a ‘time bomb’ for any candidate who can defeat Trump

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If a new president takes over the White House in January 2021, he or she may quickly find that the Democratic Party that just won control of the executive branch left a loaded gun in the hands of the Republicans, who are all too eager to use it.

That should be the takeaway from reports about the budget negotiations between the House Democrats and the Trump administration. According to Bloomberg reporter Sahil Kapur, the parties are coalescing around an agreement to raise spending by $350 billion, offset that increase somewhat with about $75 billion, and extend the debt ceiling — now set to expire in the fall — to July 31, 2021.

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Trump’s USDA plans to take 3 million Americans off of food stamps

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The US Department of Agriculture will propose a rule on Tuesday that would strengthen restrictions on food stamp recipients -- cutting approximately 3.1 million Americans from the program, according to Reuters.

Currently, 43 U.S. states allow residents to automatically become eligible for food stamps through the Supplemental Nutrition Assistance Program, known as SNAP, if they receive benefits from another federal program known as Temporary Assistance for Needy Families, or TANF, according to the USDA.

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Teeth ‘time capsule’ reveals that 2 million years ago, early humans breastfed for up to 6 years

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Humans’ distant ancestor Australopithecus africanus had a unique approach to raising their young, as shown in our new research published today in Nature.

Geochemical analysis of four teeth shows they exclusively breastfed infants for about 6-9 months, before supplementing breast milk with varying amounts of solid food until they were 5-6 years old. The balance between milk and solid food in this period varied cyclically, probably in response to seasonal changes in food availability.

Read more: How we calculated the age of caves in the Cradle of Humankind -- and why it matters

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