Fist Bumps’ at Hedge Funds Over Trump’s Tax Plan

(Reuters)U.S. hedge fund managers began warming to President Donald Trump soon after his surprise election ignited a powerful stock market rally. Now, his dramatic tax cut plans give them even more reasons to cheer.

Trump, looking to make good on pledges for sweeping tax reform, on Wednesday unveiled plans for a cut in the tax rate to 15 percent for so-called pass-through businesses. While the proposal is being billed as a boon for small businesses from pizzerias to investment management firms, one clear winner looks to be the hedge fund set, where owners can earn hundreds of millions in income a year, tax experts, managers, and their lawyers said on Wednesday.
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