“That balloon is going to get popped pretty quick,” Priebus said of hedge fund excitement during an interview with ABC News' “This Week” on Sunday. So, I mean, carried interest is on the table, and the president wants to get rid of carried interest. On the campaign trail, Trump said he wants carried interest to be taxed as income, as hedge fund managers are “getting away with murder” under the current setup. Trump's tax plan has been criticized for costing too much and benefiting the wealthy instead of the working-class voters key to his electoral victory. Many Republicans have privately questioned his proposal to lower the corporate tax rate to 15 percent, well below where GOP lawmakers had been targeting.

Source: Washington Post April 30, 2017 16:40 UTC