It was reported on Friday that Donald Trump’s counselor Kellyanne Conway sold her polling company and got to keep all the funds without having to pay any taxes. It appears that this is connected to a conflict of interest loophole that lets her avoid paying taxes because she belongs to the executive branch.
Conway’s start in politics began over 20 years ago when she started Polling Company and Woman Trend, a unit within her own polling company that tracks social, cultural, financial, professional and health trends affecting women.
Conway also owned a GOP polling firm all throughout the presidential campaign, which until Thursday was completely hers. The firm was bought by CRC Public Relations.
According to RawStory, “Conway estimated the value of her stake in The Polling Company/Woman Trend at somewhere between $1 million and $5 million.”
Being in the executive branch means one can defer those kinds of taxes when they are required to sell their assets due to conflict of interest laws.
Scott Amey, general counsel for the nonpartisan Project on Government Oversight told USA Today:
“The fewer conflicts of interest people in the White House have, the better off the country will be. I support the move. I just think you have to question the timing of it and why this wasn’t done earlier.”
The timing does seem quite odd, but it was one that was bound to happen. Conway will not be paying taxes on any of the proceeds, which makes 2017 one of her highest earning years ever.