Donald Trump’s emerging tax plan could benefit leveraged real-estate companies like the one he runs with new and substantial subsidies.

The Republican presidential nominee appears poised to combine two policies that House Republicans—and tax analysts from both parties—say shouldn’t be paired: letting businesses deduct interest, and allowing expensing, or immediate write-offs, for investments in equipment and buildings. Current law requires businesses to spread those deductions over multiple years.

The result would provide negative tax rates for investments financed with debt, creating incentives for companies to pursue projects that wouldn’t make sense economically without the tax benefits.

A business would be able to generate significant losses in the first year of an investment and then generate ongoing interest deductions. Those losses could be carried forward and used to offset future income.

“It is insane to do expensing and continue to allow interest deductions. That’s like the closest I can think of to a bipartisan sin among tax nerds,” said Lily Batchelder, a New York University law professor and a former aide to President Barack Obama. “This is converting the tax code basically into a direct spending program for anything that people can get a tax lawyer to say is debt-financed business investment.”