This is the tax that cost Trump $31 million in 2005 — and now he wants to eliminate it
Bill Pugliano/Getty Images
One tax that President Donald Trump has promised to put on the chopping block is one that hit him hard in 2005: the alternative minimum tax.
A copy of the president's tax return, recently revealed by MSNBC, indicates that the alternative minimum tax cost Trump $31 million. As Business Insider's Jim Edwards reported, that "accounted for most of the $38.5 million in taxes" the president paid in 2005.
What is the alternative minimum tax?
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