The hedge fund managers have won a temporary victory.
With this new “gang of six” plan, there is now an agreement on a framework for what will be a plan to prevent the U.S. from hitting the debt ceiling without risk of a default.
And guess what it doesn’t include: closing the capital gains loophole.
It’s not a final agreement yet, but it’s enough to believe that we’ll be fine.
But regardless, the capital gains loophole is safe for now. This is from Durbin’s office:
“Capital gains will not be a part of the deal to get us through the August 2nd deadline.”