He will fuck you over again... Bend over...

Trump details his tax agenda in meeting of House Republicans

Hedge funders and sports teams could take a hit under the president’s plan.

By Benjamin Guggenheim and Meredith Lee Hill

President Donald Trump laid out his tax priorities to a group of House Republican lawmakers at the White House on Thursday, including dusted-off proposals to boost taxes on some financial titans and eliminating a tax break for owners of sports teams.

Trump also reiterated the promises he made on the campaign trail to renew expiring provisions of his 2017 tax cuts, as well as eliminate taxes on overtime pay, tips and Social Security, White House press secretary Karoline Leavitt said.

Tax cuts for “Made in America products” and adjustments to the state and local tax deduction — which has been a major ask of Republicans from swing districts — were also put on the table.

Trump made his preferences known as House Republicans are struggling to present a united front on taxes and trying to fend off Senate GOP plans to go around them.

The meeting included House Speaker Mike Johnson, Ways and Means Chair Jason Smith (R-Mo.) and other House Republicans, who came to lobby the president to support their plan to package his tax agenda with other priorities in a single, all-encompassing bill.

Senate Republicans announced Wednesday that they would proceed to a Budget Committee mark-up of their own plan next week, which would put Trump’s energy, border and defense policies in one bill and leave tax policy until later.

Some House Republicans who want to minimize the tax plan’s impact on the deficit and prefer the two-bill plan also attended the White House meeting.

One new wrinkle Leavitt mentioned was ending the “carried interest deduction loophole.” While it was unclear exactly what she meant, the “loophole” usually refers to how income made by private equity managers is taxed at the long-term capital gains rate of 20 percent, as opposed to the top ordinary income rate of 37 percent.

Trump proposed the idea in his 2017 tax legislation but, amid fierce opposition from financial industry, it was watered down to simply increase the amount of time people have to hold their assets to take advantage of the lower tax rate.

It’s likely to face the same opposition again.

Trump has also brought up raising taxes on football leagues in the past, during controversies in 2017 over players kneeling during the national anthem. His then-press secretary, Sarah Huckabee Sanders, noted at the time that tax-free bonds help finance the construction of public stadiums hosting the National Football League.

Notably, though, the White House list didn’t mention the overall corporate tax rate, as the cost of trillions of dollars in tax cut extensions and new tax policies has continued to mount.