You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

NYT: Trump Tax Records Reveal Cash Windfall in Lead-up to 2016 Election

HeadlineOct 12, 2020

Back in the United States, a New York Times investigation into Donald Trump’s tax history suggests Trump may have used part of a $30 million loan from City National Bank in Los Angeles to prop up his dwindling campaign funding in the weeks before the 2016 election. Trump’s tax records show over $21 million in unusual payments from a Las Vegas hotel he co-owned, that flowed through other Trump companies, which Trump may have then used to “self-finance” his campaign. Such funds would likely constitute illegal campaign contributions. Additionally, it would be illegal for Trump to claim a tax deduction on payments that were not actual business expenses.

In related news, New York Attorney General Letitia James is investigating whether the Trump Organization inflated the value of a Westchester County property in order to reap a $21 million tax break as part of a conservation easement after Trump agreed to preserve 150 acres of woodlands on the estate.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top