Trump Will Seek to End Carried Interest, Expand SALT in Tax Bill
- Donald Trump is reviving his efforts to close the carried interest loophole, which allows private equity profits to be taxed at a lower rate, as reported by the Financial Times.
- Trump has gained support from Silicon Valley investors who believe the loophole is essential for their financial success, according to the Financial Times.
- Many lawmakers, including Republicans and some Democrats, have resisted efforts to end the preferential tax treatment for private equity profits, as mentioned in the Financial Times.
- A strategist noted that the current Republican Congress is more aligned with Trump than in 2017, suggesting a potential change in the carried interest debate, as stated by the strategist.
44 Articles
44 Articles
The American president wants to end differential treatment of executive profit sharing. The measure has been the target of Democratic and Republican governments for a decade, but faces resistance. US President Donald Trump wants to end a tax benefit used by private equity fund managers, who invest in equity in large companies, a feat that American politicians have been trying and failing to achieve for more than a decade. Tourism: Sector invests…
ATR Opposes Elizabeth Warren & Bernie Sanders Tax Hike on Carried Interest
Senate Democrats led by Sen. Tammy Baldwin (D-Wis.), Sen. Bernie Sanders (I-Vt.) and Sen. Elizabeth Warren (D-Mass.) unveiled legislation on Thursday that would raise taxes on carried interest by arbitrarily taxing carried interest at a higher rate. The misnamed “Carried Interest Fairness Act” would increase taxes on carried interest investment by 70 percent, increasing the tax rate from 23.8 percent up to 40.8 percent. This tax hike would end t…
Friday Footnotes: AI More Trusted Than CPAs; We're Interested in Carried Interest Again; Is Consulting So Back?
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday.Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. If you have something to say about any stories linked here you are welcome to email the edito…
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