Trump reportedly urged Speaker Johnson to raise top tax rate, close carried interest loophole

Published 08/05/2025, 18:12
© Reuters.

Investing.com -- U.S. President Donald Trump has privately urged House Speaker Mike Johnson to increase the top tax rate and eliminate the carried interest loophole, according to a report by Punchbowl News. The private phone call between the two officials took place on Wednesday.

The carried interest loophole is a provision in the tax code that allows investment managers to pay taxes on their profits at a lower capital gains rate, rather than the higher income tax rate. Trump’s suggestion to close this loophole would mean an increase in tax for these individuals.

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