The International Business Times tells us:
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.
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.
While Republicans have argued the House version of the bill contained the controversial provision, experts have told IBT the provision appeared in the legislation only after the bill was finalized during House-Senate Conference Committee deliberations.
“The mechanism is completely new and can’t be found in any prior version of the bill,” Matt Gardner, a senior fellow at the Institute of Economics and Tax Policy, previously told IBT.
Because the provision was added by the conference committee, it is “unlikely to have been fully priced into the revenue estimate, because the new provision was never subject to the benefits of crowdsourced analysis of all its implications,” University of Southern California law professor Edward Kleinbard told IBT.
But this is where it becomes interesting for Ol’ Orrin:
Elaine Hatch, the wife of the chairman of the Senate Finance Committee who said Monday that he wrote the real-estate tax break and disputed IBT’s report that the provision had not been in previous versions of the bill, owns a stake in a real-estate LLC worth up to $500,000 that generated between $5,000 and $15,000 of income from rent/royalties, interest and capital gains in 2016.
So maybe the #CorkerKickback was Hatch all along? It still doesn’t explain why Corker flipped his vote and still claims he never read the thing. Anyway, read the article if you have a chance, it’s outrageous that 14 GOP Senators (and Preznint Comrade Stupid) were feather-nesting. The IBTimes also has a handy chart of who in the GOP Senate will benefit the most, and yup, it’s Corker.