.@SenJohnKennedy on GOP tax plan: "I think a lot of Americans don't know what's in the bill...The media has been pretty negative about the bill...I think once people see the impact of this bill on the economy, they'll be very pleased." #MTPDaily— Meet the Press (@MeetThePress) December 19, 2017
Specifically speaking, these are the people who could be "very pleased" by the bill's economic impact.
When the U.S. Senate takes up the final tax bill this week, more than a quarter of all GOP senators will be voting on a bill that includes a special provision that could give them a new tax cut through their real estate shell companies, according to federal records reviewed by International Business Times.Yes, John is on the list of 14.
The provision was not in the original bill passed by the Senate on Dec. 1. It was embedded in the final bill by Sen. Orrin Hatch of Utah, who is among the lawmakers that stand to personally benefit from the provision.
In response to Democratic lawmakers who have slammed the provision as a lobbyist-sculpted giveaway to the rich, Republican Majority Whip John Cornyn promoted on Twitter a column by Ryan Ellis, a registered bank lobbyist who has been working to influence the tax legislation and who has defended the provision.
In all, 14 Republican senators (see list below) hold financial interests in 26 income-generating real-estate partnerships — worth as much as $105 million in total. Those holdings together produced between $2.4 million and $14.1 million in rent and interest income in 2016, according to federal records.