DealBook Briefing: Another Roller-Coaster Ride for the Tax Overhaul<br />A 20 percent corporate tax rate would help, but it would not be as big a boon to large companies as it<br />would be to small companies,” Jack Ablin, chief investment officer at BMO Private Bank, told CNBC.<br />If the Senate tax bill fails …<br />“If the tax reform doesn’t get done, I think there will be a pretty sharp correction,” said Bruce Van Saun, chief<br />executive of Citizens Financial Group, one of the largest banking companies in the northeastern United States.<br />of the online investment firm Betterment writes that a provision in the Senate bill requiring investors to sell their oldest<br />shares first as part of any divestment would “dramatically harm millions of retail investors.” (InvestmentNews)<br />• How different industries would fare under the Republican tax plans.<br />Gravitas Maximus LLC — a Mercer investment vehicle through which he also funded the conservative outlet<br />Breitbart — gave $25,000 to Project Veritas, according to a nonpublic portion of a 2012 tax form.<br />Tweaks to how pass-through businesses are treated:<br />The Senate tax bill allows pass-through owners to deduct 17.4 percent of their business income as a way of lowering their taxes.<br />“Their experience and talent will be a major benefit to our many private equity sponsor clients<br />and will significantly enhance our global platform, which aims to provide full coverage throughout the life cycle of a fund,” John O’Neil, global head of Kirkland’s investment funds group, said in an internal memo that will go out this morning.
