Yesterday evening, Monday August 21, Treasury Secretary Steve Mnuchin made a statement that effectively reversed Donald Trump’s campaign promise to close the carried interest loophole. Below you can read our Chair, Morris Pearl’s deconstruction of a letter from PEGCC, now the American Investment Council. The AIC continues to work tirelessly to keep this loophole open for hedge fund managers and private equity managers, even though it is a clear giveaway to the wealthiest of the 1%.

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