White House Director of Social Media Dan Scavino (R) is seen in a file photo attending President Trump's joint news conference with German Chancellor Angela Merkel with National Economic Council Director Gary Cohn (left) at the White House in Washington on March 17, 2017. REUTERS/Jim Bourg/Files - RTS16IAA
Interest deduction seen as important revenue raiser
Losing deduction would hurt profits of PE and investors
PE lobby coordinating with other industries to prevent shift
The deductibility of interest payments is becoming increasingly central to Republican tax-reform plans this year. Companies often assume large amounts of debt when they’re acquired by private equity firms. If those companies can’t deduct interest payments on that debt from ...