Democrats See Opening in Tax Overhaul Fight: Trump’s Own Deductions

In Conflict of Interest, Taxes On
- Updated

As President Trump focuses his attention on overhauling America’s tax code, he has considered turning to the other side of the aisle to reach a bipartisan deal. But an obstacle has already surfaced, dimming the chances that a “grand bargain” will be achieved: Democrats are sounding the alarm that reshaping the tax code presents Mr. Trump’s biggest conflict of interest yet.

A tax code overhaul gives Democrats the chance to again bring up Mr. Trump’s refusal to release his tax returns and to press for details of how his business deals are financed. That focus could also affect which tax code items, such as interest deductibility, are included in the overhaul.

“The American people want to see what this is about,” Senator Ron Wyden, the ranking Democrat on the Senate Finance Committee, said of Mr. Trump’s presiding over tax code changes. “Are our interests being protected or are these deals that somehow promote his interests?”

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