A profitable tax loophole for real estate could be axed in Manchin’s new deal to ease inflation

Source: Business Insider — 

A surprise spending deal by Democrats might lead to heftier tax bills for some ultra-wealthy real estate investors.

On Wednesday night, key centrist Democrat Senator Joe Manchin released a statement that reverberated throughout the halls of Congress — and the pockets of high-earning investors: He had struck a deal with Senate Majority Leader Chuck Schumer, and part of it entailed closing up the carried interest loophole.

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