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Vittert: Political donors’ big tax break stays in place | On Balance
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May 24, 2023
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May 24, 2023
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3:06Now PlayingDebt ceiling negotiations are continuing. Monday evening, the White House reportedly proposed a compromise that would eliminate the carried interest deduction. Carried interest is a tax loophole used by the wealthiest of hedge fund managers, essentially allowing them to pay a maximum rate of 20% income tax rather than 37%. Some Republicans think the proposal is a nonstarter. “On Balance” host Leland Vittert says the carried interest deduction is like Washington’s cockroach – You can’t kill it since too many donors care about it.
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