draft bill the white house is currently pushing on capitol hill, the deal between moderate and conservative republicans would require insurers to cover people with pre-existing conditions, but unlike the mandate under obamacare, insurers could charge them much higher rates if they let their coverage lapse. a tax break that benefits wall street investment managers may be on the chopping block, according to chief of staff reince priebus. speaking on sunday, he had this to say about carried interest. >> the president wants to get rid of carried interest, so that balloon's not going to stay inflated very long. i can assure you of that. >> priebus had no further details but said the administration could target the deduction in a tax overhaul. what is carried interest? it's the shared profit that hedge fund and other investment managers collect from clients due to a tax loophole. it's taxed at 23.8%, well below the top rate on ordinary income. this is controversial since we're talking about big money, private money managed $20 trillion in 2014 alone.