POPULAR SENTIMENT IS AGAINST THE LOOPHOLE
“Last October [2015] . . . [David]
Rubenstein told me, ‘I don't
think anything will get done until comprehensive tax reform is discussed and ~
everything's looked at.’ This position is both an acknowledgment that, in this
election cycle, popular sentiment has shifted against the loophole, and an
evasion, because of the unlikelihood of broad tax reform. Although the latest
attempt to close the loophole came from Dave Camp, a Republican
congressman from Michigan, as part of a 2014 plan to overhaul the tax code, the
[House of Representatives] Speaker at the time, John Boehner, when asked about Camp's plan,
said, ‘Blah blah, blah.’ Boehner's replacement, Pat Ryan, of Wisconsin, has said that
comprehensive tax reform will not be taken up until 2017 at the earliest.”
think anything will get done until comprehensive tax reform is discussed and ~
everything's looked at.’ This position is both an acknowledgment that, in this
election cycle, popular sentiment has shifted against the loophole, and an
evasion, because of the unlikelihood of broad tax reform. Although the latest
attempt to close the loophole came from Dave Camp, a Republican
congressman from Michigan, as part of a 2014 plan to overhaul the tax code, the
[House of Representatives] Speaker at the time, John Boehner, when asked about Camp's plan,
said, ‘Blah blah, blah.’ Boehner's replacement, Pat Ryan, of Wisconsin, has said that
comprehensive tax reform will not be taken up until 2017 at the earliest.”
