Karoline Leavitt, the White House press secretary, told reporters that Trump had “laid out” his “tax priorities” to the lawmakers, including measures to “close the carried-interest tax deduction loophole”, eliminate tax breaks for “billionaire sports-team owners” — and deliver on campaign promises such as eliminating income tax on tips.

During a meeting on Feb. 6, President Donald Trump told Republican lawmakers that he is prioritizing ending a tax break popular among investment fund managers. The same day, a group of more than a dozen Senate Democrats also reintroduced legislation to end the tax break.