Republican Tax Plan Hits Finance as Wall Street Ire Grows
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Dave Camp, the Republican House Ways and Means Committee chairman, is filling in the blanks in his plan to revamp the U.S. tax code and leaning on the financial industry to help pay for lower tax rates.
Proposals that became public before the plan’s release today would require big banks to pay a new levy on assets and remove preferential treatment for private-equity managers’ carried interest. Both ideas are drawing resistance from their targets.