Trump Cabinet Picks Could Avoid Big Tax Bill

“President-elect Donald Trump’s ultra-wealthy Cabinet nominees will be able to avoid paying millions of dollars in taxes in the coming weeks when they sell some of their holdings to avoid conflicts of interest in their new positions,” the Washington Post reports.

“The tax advantage will allow Trump officials, forced by ethics laws to sell certain assets, to skip the weighty tax bills they would otherwise owe on the profits from selling stock and other holdings. The benefit is one of the more subtle ways that the millionaires and billionaires of Trump’s White House, which already will be the wealthiest administration in modern American history, could benefit financially from their transition into the nation’s halls of power.”