i turn to you, bill cohan. der why popular opinion is to hate wall street specifically hedge fund managers . chew on the fact that because of this loophole, $13 billion more over this. bill: first of all, he did not do anything illegal so you have to say that. i think people accused mitt romney of something similar in the way he grew his fortune at bain. this is something private equity guys and hedge fund guys are allowed to do. he's going to have to pay the piper. $7 billion is still a large tax hit. whether he contributes money to his foundation and avoids the taxes altogether, he has made a lot more than he would have otherwise. it is legal. good for him. i wish we could do it. the problem to me is you and i can only do it with $18,000 a year and he is able to do it -- stephanie: the question is once this loophole gets closed, what is is going to mean? bill: it means they are not going to be as rich as they were. stephanie: it is not going to affect the way they do their business, their ability to perform fo

bill into law. at least not yet. a similar law in indiana sparked national outrage. as the gay and lesbian community labeled it as a tool for discrimination. >> pam: cnn's stacey cohan has more from washington. >> reporter:whether it was the controversy. >>: we shall overcome. >> reporter:.or the contents of the bill. the result is the same. >> reporter:arkansas governor asa hutchinson will not sign the religious freedom bill as it is currently written. >>arkansas "we want to be known as a state that does not discriminate but understands tolerance." >> reporter:the bill mirrors a law businesses a license to discriminate by refusing to sell their good and services to gay people, if they choose. >> reporter:indiana's governor mike pence is now asking legislators to make changes. >>indiana "we will fix this and we will move forward." >> reporter:back in arkansas - governor hutchinson says the debate over the bill really hit home. >>arkansas" "my son seth signed the petition asking me, dad, the governor, to veto this bill." >> reporter:the arkansas republican did not kill the bill. legislature to make changes, so it will more closely match a federal law already in place.