Wall Street Prepares to Defend Carried Interest, a Favored Tax Break, Again
Summary
We’ve got a whirlwind of news out of Washington — the carried interest tax exemption in the cross hairs, the latest on DOGE and an update on settlement talks between CBS and President Trump — but you should also pay attention to this news out of Washington State. Amazon said it planned to spend $100 billion on capital expenditures this year, the “vast majority” of which was meant to capture a “once-in-a-lifetime type of business opportunity” in artificial intelligence. It shows yet again that one of the key fears about the rise of DeepSeek — the Chinese start-up’s staggering efficiency — leading to a sharp drop in spending on pricey chips and data centers — was wrong. But are American tech giants making the right call here? President Trump has outlined his tax priorities to Republican lawmakers.