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Donald Trump told legislators that he wanted to end the special tax transaction of private stock profits and hedge boxes known as “the benefits that have been implemented”, which is a potential struggle with the richest of America.
The batch of Trump – at a meeting at the White House on Thursday with the Republican leaders from Capitol Hill – comes at a time when the president is intensifying talks on broader. tax Reducing the bill he wants this year, which is essential to its local economic schedule.
Caroline Levitt, the White House press secretary, told reporters that Trump If “his” tax priorities “of the legislators, including” closing the provision of deduction of the interest tax “, and canceling the tax exemptions” for billionaire sports owners “-and providing promises of campaigns such as eliminating income tax on advice.
The special tax treatment of the “preserved interest” has been the subject of the big pressure battles in Washington over the past two decades, since then, since then Private property rights Groups and hedge boxes have become more powerful in Wall Street, and attracted the scrutiny of politicians.
It is considered a “loophole” because the profits of private stock and hedging box managers are imposed on long -term capital rates, which are usually less than regular income rates.
Many Republicans – and even some Democrats have resisted efforts to install this preferential treatment, helping the special stock industry to maintain the current situation. A precedent attempt early at the presidency of Joe Biden.
But Trump, who tried and failed to eliminate the private tax transaction of private stock profits in 2017, now returned it to the table.
“It is possible that the battle around the transferred attention is the most difficult yet,” said one of the strategies working closely with the private stock industry. “Trump wanted to go in 2017 and was criticized by Congress, but the Republican in Congress today barely resembles the nerves of higher financing and more willing to stand in the president's line.”
However, Trump's tax plans are likely to be the grace of Lol Street and American companies, given his goal of extending the comprehensive tax cuts on the income approved during his first term. But the inclusion of some popular rulings will test how Republicans in Congress will spare the friendly party to the business they were traditionally. Some Democrats in Congress have already adopted Trump's appeal for attention.
“Ideal timing. I presented today's bill to end the carrier's interesting loophole and made Wall Street to pay their fair share. Happy because you agree, Potus. Tami Baldwin, a Senate member from Wisconsin, said, referring to Trump:” It is time to accomplish this. ” .
The 2017 tax bill has narrowed the scope of benefiting from private shares by extending the number of years that must be held invested before the start of preferential treatment from one to three years. One of the scenario will be another extension of this time frame, as an alternative to the complete disposal of the vulnerability.
The debate that revolves around the fate of taxes on private stock profits opens after the makers of deals entered the new year immediately on the anti -monopoly organizers in the president who are undergoing new integration instructions in Draconian, which is scheduled to start next week, in addition to maintaining the tax Determination of debt and broader tax discounts. Those familiar with the industry have long believed that the efforts made to eliminate the taxes of the preserved benefits will work on it because it may strike investors such as small real estate buyers.
Drew Malone, head of the main pressure group in the private stock industry, the US Investment Council, said that the 2017 law has achieved a “right balance” on attention.
He added: “We encourage the Trump and Congress administration to maintain this sound tax policy in its place and launch more long -term investment that supports jobs, workers, small companies and local communities.”
