Nov 2, 2017

House GOP keeps tax loophole for hedge fund managers

Dan Primack, author of Pro Rata

House Ways and Means chairman Kevin Brady (R-TX). Photo: Jacquelyn Martin/AP

The tax plan released Thursday by House Republicans would maintain the "carried interest" loophole, which benefits managers of hedge funds, private equity funds, venture capital funds, real estate funds and other types of investment partnerships.

Why it matters: President Trump had pledged to change this tax treatment during the campaign, and Treasury Sec. Steve Mnuchin has reaffirmed that pledge repeatedly, at least in regards to hedge funds. White House chief economic advisor Gary Cohn has said the same.

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Updated 11 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. EST: 32,062,182 — Total deaths: 979,701 — Total recoveries: 22,057,268 — Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m EST: 6,967,103 — Total deaths: 202,558 — Total recoveries: 2,670,256 — Total tests: 97,459,742 — Map.
  3. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  4. Business: America is closing out its strongest quarter of economic growth.
  5. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
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  7. Science: During COVID-19 shutdown, a common sparrow changed its song.
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The child care tax on America's economy

Child care in the U.S. is in crisis, which makes it much harder for the American economy to recover — as providers struggle to stay in business and parents wrestle with work.

Axios Re:Cap digs into the problems and what can be done to solve them, with Vox senior reporter Anna North.

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Viral load is a puzzle in COVID-19

Illustration: Eniola Odetunde/Axios

How sick a person gets from a virus can depend on how much of the pathogen that person was exposed to and how much virus is replicating in their body — questions that are still open for the novel coronavirus.

Why it matters: As people try to balance resuming parts of their daily lives with controlling their risk of COVID-19, understanding the role of viral load could help tailor public health measures and patient care.

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