Trump White House eyes interest deductibility in push for tax reform

Steven Mnuchin, Gary Cohn, Donald Trump, private equity, hedge fund, tax reform
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 ...

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