Senate bills ending ETF tax cuts are “quite unlikely to pass”: CIO

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A Senate Democratic Proposal End tax cuts on exchange-traded funds Dave Nadig, Chief Investment Officer and Research Director of ETF Trends, told CNBC. “ETF Edge” this week.

“I think the chances are pretty low,” Nadig said in an interview Monday. “It’s easy to look at this and say,’Well, well, this is what the rich are using.’ The biggest beneficiaries of this are actually small investors.”

Created by Senate Finance Committee Chairman Ron Wyden, D-Ore. invoice We propose to stop tax cuts for physical transactions. This allows ETF managers to sell out their positions without imposing capital gains taxes on end investors. It exempts tax deferred retirement account ETFs.

“ETFs and traditional mutual funds are in much the same position, which means that if someone has to sell in a portfolio, there will be a taxable event,” says Nadig.

Weiden said the plan applies to “taxable accounts of the wealthiest investors,” but there are many other ways to get tax incentives besides ETFs, which are “never” the main thing. It’s not the way, Nadig said.

“This is pretty regressive, so I think it’s pretty unlikely to go through,” he said. “But why? Obviously, it’s trying to make money.”

Senate bills ending ETF tax cuts are “quite unlikely to pass”: CIO

Source link Senate bills ending ETF tax cuts are “quite unlikely to pass”: CIO

The post Senate bills ending ETF tax cuts are “quite unlikely to pass”: CIO appeared first on Eminetra.

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