At her Senate confirmation hearing Tuesday, President-elect Trump’s selection to lead the Education Department, Betsy DeVos, said she won’t accept a salary, assuming she’s confirmed for the job.
“If confirmed, I will only take a salary of $1, to be official, but I don’t intend to take a salary either,” DeVos said.
DeVos and her family are worth approximately $5.1 billion combined, thanks to their success building the Amway company.
Not only that, but DeVos is committed to divesting from many of her private business ties to avoid any possible conflicts of interest. That divestiture means she would get a large amount of capital gains income. DeVos could save a lot of money if she deferred the taxes she’d have to pay on that income.
Instead, DeVos committed on Tuesday to not defer payment on those taxes on those capital gains.
“I do not intend to take advantage of that loophole,” DeVos said.
Jason Russell is the contributors editor for the Washington Examiner.
