By Michael A. Cohen Globe Columnist December 19, 2017
Bob Corker got his hand caught in the cookie jar.
Two weeks ago, the Tennessee Republican was the only GOP senator to vote against the party’s deficit-busting $1.5 billion tax cut. At the time, Corker claimed that his “guiding principle” as a senator is concern about “the rapidly growing $20 trillion national debt . . . on our children and grandchildren” and, as a result, he couldn’t vote for a bill that he said “could deepen the debt burden on future generations.”
On Friday, however, Corker abruptly changed his tune. Even though the latest version of the tax bill does nothing to address Corker’s deficit concerns, he announced that he was switching his vote from nay to yea. According to the Tennessee Republican, he could not pass up a “once-in-a-generation opportunity to make US businesses domestically more productive and internationally more competitive.” Advertisement
Considering his “principled” opposition to increasing the federal deficit, it was hard to see the logic of Corker’s about-face — that is, until we found out Corker would personally profit from the legislation. At the last minute, a provision was inserted into the GOP tax bill giving a generous tax break to real-estate related pass-through corporations and partnerships. As chance would have it, Corker happens to have significant holdings in companies that would benefit from this change. In fact, Corker made between $1.2 million and $7 million last year from such income, which means this late addition to the GOP tax bill could net Corker close to $1.2 million in tax savings.
_________________________ **** ATTENTION! BAD POLITICIANS ARE ELECTED BY GOOD PEOPLE WHO DON'T VOTE! ****