Kushners buying 4th New Jersey property in tax-break zone
NEW YORK (AP) — Jared Kushner’s family company plans to buy another property in a New Jersey beach town where developers can get big tax breaks thanks to a new federal program pushed by Kushner and his wife, Ivanka Trump.
Long Branch Business Administrator George Jackson says Kushner Cos. is negotiating to buy in the Lower Broadway section of Long Branch, New Jersey. The property is in one of thousands of Opportunity Zones that the federal government approved earlier this year offering tax breaks to entice investment in high poverty areas.
It would be the fourth Kushner purchase in an Opportunity Zone in Long Branch since the program was included in last year’s tax overhaul law. Ethics expert say Kushner’s push for the program in Washington raises conflicts of interest issues.