News Pro

Clinton to pledge to close carried interest tax loophole: adviser

U.S. Democratic presidential candidate Hillary Clinton speaks at a campaign event in Iowa City, Iowa, United States, July 7, 2015. REUTERS/Jim Young

NEW YORK (Reuters) - Democratic presidential contender Hillary Clinton will pledge on Monday to close the carried interest tax loophole that allows private equity fund managers to pay a lower tax rate on much of their earnings, according to a draft of a speech seen by an outside adviser.

Clinton, who is seeking her party’s nomination to run in the November 2016 election, took a similar stance during her last presidential campaign in 2007, and is expected to reaffirm it in a speech on her economic policy in New York City on Monday.

Reporting by Jonathan Allen