Regulatory Outlook | 09.16.21
Democratic Tax Proposal Takes Aim at ETFs
A proposal from Senate Finance Committee Chair Ron Wyden (D-OR) aims to tax the use of “in-kind” transactions by exchange-traded funds (ETFs) that currently avoids triggering capital-gains taxes. By closing the tax loophole, the proposal would eliminate one of the ETF industry’s key selling points: tax efficiency. This proposed change has spurred a rush to mobilize among the largest asset managers.
Read the full article on Wall Street Journal