Well this explains why at least some of the Republicans support Trump so adamantly.
Courtesy of Market Insider:
Many Republican lawmakers profited off the tax cuts President Trump signed into law in 2017, according to a joint investigation by Center for Public Integrity and Vox on Friday.
The report sheds light on the lack of federal guardrails in place that prevents lawmakers from crafting and passing legislation they stand to benefit from.
Thirty-six of the 47 Republicans across three congressional committees responsible for drafting the law held stock and stock mutual funds, according to the report, which reviewed members’ financial disclosure forms. The law likely shaved hundreds of thousands of dollars off their tax bills.
While Democratic lawmakers stood to benefit, none voted for the law.
Trump’s tax cuts slashed the corporate tax rate to 21%, while also creating tax breaks for seven asset classes including partnerships and real estate that richer members of Congress tend to invest in.
Among the members of Congress owning assets that received a tax break from the law:
House lawmakers included GOP Reps. Jim Renacci of Ohio, Diane Black of Tennessee, Carlos Curbelo of Florida (Curbelo and Renacci lost their 2018 election campaigns). All sat on the House Ways and Means Committee, which played a key role designing the plan.
In the upper chamber, Republican Sens. David Perdue of Georgia, John Kennedy of Louisiana, and Rob Portman of Ohio owned assets that received favorable tax treatment.
The law also generated massive savings for corporations. Last year, the government collected $150 billion less in corporate tax revenue.
You know maybe it’s just me but it seems extremely unethical for lawmakers to pass a bill that financially benefits them directly while screwing over the majority of the country.
To me this seems like Trump is simply buying votes and influence that he can use later.
You know, like perhaps in an impeachment trial, for instance.