After the US House of Representatives passed the Republican Party’s tax bill, some experts have said that US President Donald Trump and his family stand to get richer from the new bill, which will allow them to save several million US dollars in tax every year. They are now pressing Trump to release his tax refund records.
Daniel Hemel, a tax law professor at the University of Chicago, who has urged Trump to release his tax return, has said that if the Republicans’ new bill does, indeed, cause Trump to lose money, then he will reimburse Trump the balance; should the tax bill make Trump even richer, however, then he should pay Hemel the difference.
A professor of tax law at New York University has also said that, apart from a cut in federal tax deductions from state and local taxes, he cannot find any part of the bill that is not good for the Trump clan, and that it is manifestly evident that Trump will be able to make big tax savings. The professor expressed disbelief at how Trump could say that he would lose big from the bill.
Every American president since 1973, during the era of former president Richard Nixon, has declared information about their tax rebates to show that they were not enriching themselves, but Trump has consistently refused to reveal his, on the pretext that the Inland Revenue Service is auditing them.
(Liberty Times, translated by Paul Cooper)
1. balance n.
2. federal tax phr.
(lian2 bang1 shui4)
3. deduction n.
(kou4 chu2 e2)
4. tax rebate phr.
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