The New Tax on Stock Investors Hidden in the Senate Tax PlanWall Street Journal Some of the largest fund companies in the country are pushing back against a little-noticed provision in the Senate tax bill they argue will cost investors millions. The provision would prevent investors from minimizing taxes by choosing the specific shares that are being sold when they sell part of a position. Instead, investors would have to sell their oldest shares first. If the provision becomes law, “markets will work less well. Our fund managers will have their hands tied, and our shareholders will owe more in taxes,” said Thomas Faust, chief executive of Eaton Vance Corp., a fund firm that manages more than $419 billion.
