VP Kamala Harris has been discovered to keep some of her assets in a tax-advantaged trust, a strategy that seems to break an ethics promise she and Biden made while campaigning for President.
According to financial reports this week, she is a trustee for the KDH/DCE trust. The trust’s assets “are not reportable,” essentially hiding the VP’s holdings away from public attention.
The trust is not in line with Biden’s campaign plan to lower such tools after getting into office. Biden and Harris promised to “remove the trust loophole in the current law,” and Biden said he would “require any person on his team who is the beneficiary of a trust to reveal its holdings.”
It is uncertain why Harris does not have to go along with this promise and report the assets in her trust. And while the VP obscures holdings inside the trust, some of it can be found using public sources from areas where the vice president has resided. The current combined estimated worth of the real estate holdings in her trust is $7.2 million.
Harris also released financial documents that show she only donated 1.6% of her income to charity in 2020, a level below the average for her income level.
Author: Blake Ambrose
To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].
Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More