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Politics and civics

Illinois deal with Carrier has a shadow: Trump’s investment in parent

Number two in Donald Trump conflicts of interest linked to a public policy decision: the tax bribe for Indiana’s Carrier.

Documents that Donald Trump filed with the FEC in 2016 show that he held stock in United Technologies, the parent company of Carrier. Carrier was in the headlines Thursday because it’s not going to ship as many jobs to Mexico as it said it would.

Candidates for any federal office — including the presidency — must file personal financial disclosures. OpenSecrets has the full file on Trump, including a PDF of his 2015 financial disclosure form. However, it is the PDF of his 2016 form that shows his investment in United Technologies as a function of interest earned on a corporate bond. His Deutsche Asset & Wealth Management Brokerage Account does not show an entry for United Technologies on the 2015 form.

rump FEC disclosure, May 2015
Page 45, Trump FEC disclosure, May 2016

Certainly, this is not a major investment.

Trump lists more than 500 “positions held outside United States Government” and most of these positions are marked as current.

Assets and income: another 168 lines.

The United Technologies income comes in section 6, other, which is multiple pages.

The Indianapolis Star reported this connection last year.

The company owns two affiliates — Carrier Corp. and UTEC — that announced in February they were laying off workers at plants in Indianapolis and Huntington and moving manufacturing operations to Mexico. The companies make heating and air conditioning products.

Trump also owns stock in the parent company of the Dakota Access Pipeline project. The Dakota Access Pipeline is not the first of Donald Trump’s conflicts of interest to be made public, but it was the first to get a public policy endorsement. Carrier is the second.

On Thursday, media reported that the state of Indiana would offer $7 million in tax incentives over a two year period if the company would not ship all jobs to Mexico as previously announced. Instead of shipping out 2,000 jobs, Carrier said it would keep 800 of those jobs in-state. The company had announced earlier that it was planning retain 300 jobs.

 

 

By Kathy E. Gill

Digital evangelist, speaker, writer, educator. Transplanted Southerner; teach newbies to ride motorcycles! @kegill

4 replies on “Illinois deal with Carrier has a shadow: Trump’s investment in parent”

An interesting exercise. And, to me, and even more interesting exercise is to measure the left-English put on the ball by the anti-Ts and the right-English by the pro-Ts. A number of indicators can be used. At this time of year, especially…which viewpoint has more of the Christmas Spirit and which is more Grinch-like? Personally, I like the “glow” generated by the idea that a number of Indiana workers will still have jobs and be paying in to fund my SSI. Selfish, perhaps. But honest. How refreshing to have a Prez-elect willing to pick up the phone….on my behalf. As opposed to picking up the golf clubs. A game I do not play.

This is not a “glass half full” situation. Yes, it’s good for those 800 employees who will continue to have a paycheck. But it’s a horrible precedent, as analysts from the right and left have pointed out for different reasons. That’s in addition to the conflict-of-interest evident in Trump’s intervention. Pence is doing something that Indiana has to answer for long after he has left and for which he is, therefore, incapable being held accountable.

Where is the $7 million coming from? Which Indiana families and programs are being sacrificed for Carrier?

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