YouTube has the video The REAL Reason This CORRUPT Senator Flip-Flopped On Trump’s Tax Cut Bill.
Corker claimed not to understand whether or not as a real estate investor he would benefit from this.
As an investor who is a pipsqueak compared to Corker, even I know what this provision is for. When I was invested in Real Estate Investment Trusts, I knew that these organization’s dividends that that they paid me were critically dependent on these loopholes. Apparently the tax code revision must have taken these loopholes out, and someone must have pointed out that they needed to be put back in.
I should point out that I had these REITs in an IRA so that I did not pay taxes on the dividends that were passed on to me.