One Senate Democrat’s proposal to end a tax break for exchange-traded funds is “pretty unlikely to pass,” ETF Trends chief investment officer and director of research Dave Nadig told CNBC’s “ETF Edge” this week.

Nadig told CNBC’s Monday interview that “I believe the chances are quite low.” This is easy to say that this is something only the wealthy are using. These are the smaller investors who benefit most.

Crafted by Senate Finance Committee Chairman Ron Wyden, D-Ore., the bill suggests stopping the tax break on in-kind transactions, which enable ETF managers to sell out of positions without triggering capital gains taxes for the end investors. ETFs held in tax deferred retirement accounts would be exempt from this exemption.

Nadig stated that ETFs and traditional mutual funds are now on the same level. This means that if someone sells within the portfolio it will be considered a tax-deferred retirement account.

Wyden stated that the plan is applicable to the “taxable accounts” of wealthiest investors. However, Nadig explained that there are many other ways for them to get tax benefits beyond ETFs.

He stated that “This plan would be very regressive, and it is unlikely it will pass.” But what is the real reason? Evidently, to increase revenue.