US Senate Democrats call on Trump Medicare nominee Dr. Oz to pay $400,000 in avoided taxes

Health and Fitness Health and Fitness

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US Senate Democrats call on Trump Medicare nominee Dr. Oz to pay $400,000 in avoided taxes

^{Published on 2025-03-20 12:43:19 - Reuters}

Dr. Mehmet Oz, the celebrity physician nominated by President Donald Trump to oversee the government's Medicare and Medicaid health plans, should commit to paying over $400,000 in taxes he avoided, two Democratic U.

U.S. Senate Democrats, led by Sen. Elizabeth Warren, have called on Dr. Mehmet Oz, President Trump's nominee for a key Medicare and Medicaid advisory board position, to pay approximately $400,000 in taxes that he allegedly avoided. The contention arises from Dr. Oz's use of a tax strategy involving a $1.5 million loan from his company, which he did not declare as income, thereby avoiding taxes on that amount. This practice, known as a "loan-out" strategy, is criticized for allowing high-income individuals to reduce their tax liabilities. The Democrats argue that this action undermines the integrity of the tax system and is particularly inappropriate for someone nominated to oversee programs like Medicare, which are crucial for many Americans. They have urged Dr. Oz to rectify this by paying the back taxes and have also requested the Senate Finance Committee to investigate further.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/health/other/us-senate-democrats-call-on-trump-medicare-nominee-dr-oz-to-pay-400-000-in-avoided-taxes/ar-AA1Bk2Ye ]

N@N

US Senate Democrats call on Trump Medicare nominee Dr. Oz to pay $400,000 in avoided taxes