President Donald Trump, still rankled by the preferential tax treatment of investment profits at hedge funds and private equity firms, says he wants another crack at ending so-called carried interest.
“So is carried interest something you’d still like to do?” Fox interviewer Steve Hilton asked Trump in an interview broadcast late May 19. “I would like to do it, I will do it,” the president said in response.
The 2017 GOP tax overhaul imposed new curbs on carried interest but fell far short of eliminating its benefits altogether.
Carried interest, an investment manager’s slice of profits from a fund that...