After the election, the Trump Organization and its family members were given a tax break in exchange for not having to pay federal income taxes for four years.
The deal gave them a windfall worth about $2.9 million, according to the nonpartisan Tax Policy Center, and was meant to provide relief for the millions of Americans whose tax bills rose during the Trump administration.
But a closer look at the tax break shows that it was an extremely generous one.
The Trump Organization took in $18.6 million in 2016, $18 million in 2017 and $14 million in 2018.
That’s more than double the $7.5 million it took in 2011, according a Tax Foundation analysis.
In 2020, it was $7 million, and in 2021 it was a record $25.7 million.
It’s the third year in a row that the Trump’s business empire has taken advantage of the “incentive” the tax law provides for corporations and other small businesses.
In 2016, the last year the tax incentive is available, the company earned about $3.3 billion, or $2 billion more than it made in 2010.
That was thanks to the tax cut, which included a $500,000 tax credit for each employee of the Trump organization who earned less than $250,000.
That means about 3 million taxpayers earned more than $1 million in taxes last year.
Even after the tax credit expired, the value of the tax advantage went up.
In 2018, the tax code provided a tax credit worth about half a billion dollars for companies that make less than about $1 billion.
But in 2020, the year before the tax relief ended, that tax credit was worth about 1.5 billion, the Tax Foundation found.
Trump has said he wants to get rid of the corporate tax rate and has proposed cutting it to 15 percent from 35 percent.
That would mean a tax bill of about $9.3 trillion, the foundation found.
Trump’s corporate tax plan would cost about $5.6 trillion.