President Trump detailed his tax policy goals in a meeting with Republican lawmakers Thursday, pushing to eliminate the carried interest tax break for private equity fund managers and expand the state and local tax deduction.
White House Press Secretary Karoline Leavitt told reporters that Trump outlined these measures along with other provisions he wants included in a sweeping tax bill this year. Among them are his campaign promises to eliminate taxes on tips, Social Security payments, and overtime pay. He also reiterated his proposal to end what he described as “special tax breaks for billionaire sports team owners” and introduce new cuts for made-in-America products.
Republicans are also pushing to extend Trump’s 2017 tax cuts, which include breaks for individuals and small businesses and are set to expire in December.
