Proposed CLARITY ethics deal could save Trump millions in taxes: Bloomberg
The latest bipartisan ethics proposal would reportedly require Trump to divest crypto businesses while allowing him to defer capital gains taxes on those sales.
A bipartisan ethics proposal pitched to US President Donald Trump to secure passage of the crypto market structure bill in Congress could create a significant tax benefit for the president, Bloomberg reported Thursday.
The ethics addendum, which has not been made public, includes a provision requiring the president to divest from crypto-related businesses, according to people familiar with the matter. The proposal would reportedly allow Trump to defer capital gains taxes on any required divestitures, potentially leading to tax savings in the millions.
Democratic concerns over Trump’s crypto conflicts have been a central obstacle to passing the market-structure bill. Senators have been working on an ethics addendum meant to break that impasse, though the reported tax-deferral benefit could become another point of contention for Democrats to question whether the president’s financial interests are genuinely curbed.