The U.S. Internal Revenue Service (IRS) moved on Tuesday to ease the tax burdens of private equity portfolio companies and heavily indebted industries.

Prior to President Donald Trump’s 2017 tax-code overhaul, interest expenses were generally fully deductible. The Trump tax law capped tax deductions for debt interest payments at 30 percent of EBITDA (earnings before interest, taxes, depreciation, and amortization).


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