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How the Real Estate Lobby -- and Trump -- Got a Huge Tax Break

Donald Trump gestures to photographers at a gathering in New York in 1991. A few months later, he'd go to Washington, D.C. to urge Congress to pass tax breaks for the real-estate industry. (Photo: AP/Luiz Ribeiro)  N o industry is treated more favorably by the federal tax code than real estate. Developers can write off the depreciation of their buildings on very favorable schedules, even while their properties are increasing in value.
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