In an era of declining taxes and soaring spending, the Trump administration is making billions of dollars off of taxpayers’ money.
A review of the administration’s fiscal 2018 financial disclosures shows that it is receiving more than $4 billion from the government’s estate tax, and another $2.2 billion from a $3.6 billion tax credit.
That money is being spent on things like salaries and other compensation for senior government officials, a Treasury official said.
Treasury also has an $8.3 billion surplus, so it’s able to invest the money in bonds and other investments, a White House official said, declining to be identified because the official wasn’t authorized to discuss the details.
The surplus will be used to pay for other priorities, including debt relief and other programs, the official said in an email.
The Treasury official wouldn’t say how much money has been spent on the estate tax.