1817 ET - President Trump wants to "close the carried-interest tax deduction loophole," said White House spokeswoman Karoline Leavitt. She listed the Trump administration's tax priorities that she said the president laid out to congressional leaders. Venture capital and other investors collect carried interest. They pay a preferential federal tax rate on this income, which some politicians call a "loophole." The National Venture Capital Association, a venture industry group, issued a statement opposing the call. "Carried interest encourages smart, high-risk investments in innovative high-growth startups. The 2017 Trump tax legislation kept venture investment flowing to emerging technologies like AI, crypto, life sciences, and national defense. A change now will disrupt that progress and disproportionately harm small investors, especially in middle America," the NVCA and its CEO Bobby Franklin said. (yuliya.chernova@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 18:17 ET (23:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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