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House Republicans Reject Plan to End Carried Interest Tax Break

9/5/2026

Summary

Republicans Preserve Loophole

House Ways and Means Committee Republicans rejected proposals to eliminate the carried-interest tax break.
Rep. Hinson and Republican colleagues wrote an April letter urging Chairman Jason Smith to preserve the provision.
U.S. President Donald Trump signaled in 2025 to close the loophole, which CBO projected would raise $13 billion in ten years.
Professor Choi surveyed 157 colleagues and found 147 said carried interest should be taxed as ordinary income.

Summary

Ken Griffin Funds

Donor Ken Griffin contributed $1.5 million to Fight On Iowa, the super-PAC backing Ashley Hinson.
Candidate Ashley Hinson’s campaign has not responded to a request for comment on her financial-industry ties.
Her husband owned between $1 million and $5 million in stock of High Street Insurers, a Huron Capital subsidiary.
Hinson previously supported major cuts to the SEC and the Consumer Financial Protection Bureau.

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Republicans Preserve Loophole

House Ways and Means Committee Republicans rejected proposals to eliminate the carried-interest tax break.
Rep. Hinson and Republican colleagues wrote an April letter urging Chairman Jason Smith to preserve the provision.
U.S. President Donald Trump signaled in 2025 to close the loophole, which CBO projected would raise $13 billion in ten years.
Professor Choi surveyed 157 colleagues and found 147 said carried interest should be taxed as ordinary income.

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