Trump Will Seek to End Carried Interest, Expand SALT in Tax Bill
- President Donald Trump aims to pass the largest middle-class tax cut in American history, as stated by White House Press Secretary Karoline Leavitt.
- Trump's tax priorities include no taxes on tips, Social Security, and overtime pay, along with renewing his 2017 tax cuts.
- Lawmakers are debating whether to bundle tax cuts with other GOP priorities or pursue a two-step approach, as reported by multiple sources.
- Republicans need near-total party unity to advance Trump's tax cuts and immigration policies given their narrow majorities in Congress.
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…
Coverage Details
Bias Distribution
- 73% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
