NEW YORK — Donald Trump, the presumptive Republican nominee for president, said Monday he is not planning on paying taxes on his $3 billion net investment portfolio.
In an interview with Bloomberg News, Trump said he “wanted to leave a lot of cash on the table” during his time as president, and that he has put $2.5 billion of his own money into it.
“I’m not going to have to pay any taxes,” Trump said.
“I’ll just keep it all in my trust and put it in a blind trust.
I’m not gonna have to write any checks.”
He said his investment portfolio is in the “tremendous range” of his net worth, and “I’m very, very, extremely careful about what I put in it.”
The billionaire real estate developer said he did not want to have any conflicts of interest because he “don’t want to give up any of my profits” and said his assets have “been completely audited by the SEC.”
Trump said he has not had any income from his investments, and instead has used the money to build his sprawling real estate empire.
“My assets have been audited, they’ve been verified, they’re not in any way tainted, and I think that they’re safe,” Trump told Bloomberg.
“My trust will be totally audited every year.”
He also said he does not plan to invest in any new projects until he’s inaugurated.
He has also said that he is “not going to get involved in the healthcare issue, and in fact, I’m just going to give away a lot.”
Trump did not answer a question about his plans for tax reform, saying that he’s still reviewing the tax code and that his decision on that is “up to Congress.”
Trump’s statements came as the Republican Party’s presidential nominee appeared on “Fox and Friends” to discuss how he would pay for his tax plan.
The GOP candidate said that, after reviewing his finances, he is ready to propose a tax cut of up to $2,000 per year for households earning more than $5 million.
Trump has been making similar comments about how he plans to pay for tax cuts in the past, saying in April that he would “love to have a big tax cut” and that the best way to achieve that would be through a “big, big tax reform.”
The presumptive GOP nominee has said that if elected, he will “absolutely” pursue a tax plan that is revenue neutral.