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Bloomberg Calls for Ending Bush-Era Tax Cuts, ‘Loopholes’

New York Mayor Michael Bloomberg called for eliminating the 2001 and 2003 tax cuts for the wealthy and farm and energy subsidies, and ending what he called “tax loopholes” on carried interest enjoyed by hedge fund partners.

“All income groups have to be part of the solution,” the mayor said in an economic-growth speech today in Washington. “Allow the Bush tax cuts to expire at the end of 2012, not just for high-income workers as the president has proposed, but for all tax brackets.”