Treasury Secretary Mnuchin was asked last night by Fox News' Tucker Carlson about why the White House tax principles did not include any mention of closing the carried interest loophole -- something that President Trump had mentioned regularly on the campaign trail.

Mnuchin replied that Trump remains committed to closing the loophole for hedge fund managers, but repeatedly avoided adding private equity fund managers into the mix:

Steve Mnuchin on the carried interest loophole for hedge funds: pic.twitter.com/R2sdt6YQE2 — Axios (@axios) April 27, 2017

Takeaway: Carried interest taxation may not matter if the White House gets Congressional approval for its plan to tax pass-through entities at 15%. In that case, changing carried interest taxation for hedge fund managers would be largely cosmetic. But it's hard to imagine Congress going along with a plan so ripe for abuse, so the real takeaway here is that hedge fund managers should be concerned about losing their loophole, but everyone else (private equity, venture capital, real estate, etc.) can sleep soundly.

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GAO finds Chad Wolf, Ken Cuccinelli are ineligible for top DHS roles

Photo: CQ-Roll Call, Inc via Getty Images

Acting Homeland Security Secretary Chad Wolf and his acting deputy Ken Cuccinelli are ineligible to be serving in their positions, the Government Accountability Office (GAO) decided in a report released Friday.

Why it matters: While the finding has no immediate power, it could be important evidence in litigation over policies enacted under Wolf and Cuccinelli's leadership, said America's Voice's Ur Jaddou, who served as chief counsel to U.S. Citizenship and Immigration Services (USCIS) under President Obama.

The many divisions over Trump's methane rollback

Illustration: Rebecca Zisser/Axios

EPA's decision to cut regulation of methane is laying bare an oil-and-gas industry divide and setting the stage for political battles this fall and beyond.

Why it matters: Methane is an extremely powerful greenhouse gas and the industry is a key emissions source.

Kushner says Trump didn't promote false Kamala Harris birtherism theory

White House senior adviser Jared Kushner told "CBS This Morning" on Friday that he does not believe President Trump promoted a baseless claim that Sen. Kamala Harris is ineligible to be vice president.

Driving the news: During a press briefing on Thursday, Trump did not question the veracity of a Newsweek op-ed that inaccurately claimed Harris may be ineligible for the office due to her parents' naturalization status at the time of her birth. Harris is an American citizen and was born in Oakland, Calif.