I’m writing in support of efforts in Congress to pass pro-growth tax reform, but I am concerned some in Congress want to raise taxes on capital gains.
While it appears unlikely that members of Congress or the Trump Administration would have the appetite to increase rates outright, they should be sure not to incrementally move the needle toward higher capital gains taxes in other ways, like boosting taxes on carried interest capital gains.
Some in Congress who support higher taxes say the carried interest capital gains tax hits hedge fund managers in New York City, but in reality it hurts pension funds, charities, and even colleges that depend on investment partnerships.
There is broad support for serious tax reform across Iowa. As the Senate takes up tax reform, I hope U.S. Sens. Chuck Grassley and Joni Ernst, R-Iowa, steer clear of raising the carried interest capital gains tax.
Editor’s note: Doland is Mahaska County Board of Supervisors chairman