Trump tax plan

New research reveals the financial services industry both prefers and predicts an incumbent win in November.

While student, auto and credit card balances are at or near record levels, housing debt is shrinking, credit quality is weakening a bit and lending standards, at least in some sectors, are tightening.

The Los Angeles-based distressed-debt specialist has $20.5 billion in dry powder, including over $8.8 billion in uncommitted capital stored in a dormant opportunities fund.

The Taxs Cuts and Jobs Act preserves most of existing benefits for owners, operators, and investors, and provides a few new perks as well; there are some trade-offs to be made, however.

The Senate approved the final tax reform plan 51-48 early Wednesday, the second-to-last obstacle before sending it to President Trump for his signature.