Private Equity Group Opposes Closing Carried Interest Tax Loophole
WASHINGTON, D.C. - The American Investment Council (AIC), a private investment industry group, urged the Trump administration and Congress not to close a loophole that allows private equity and hedge fund managers to pay a lower capital gains tax rate on much of their income.
"We encourage the Trump Administration and Congress to keep this sound tax policy in place and unleash more long-term investment that supports jobs, workers, small businesses, and local communities," said AIC President Drew Maloney.
The plea comes after White House press secretary Karoline Leavitt said Thursday that President Trump had laid out tax priorities that include closing the carried interest tax loophole.