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Asher Bearman
asher.bearman@dlapiper.com

Ways and Means Committee Ranking Member Sander Levin (D-MI) remains intent on increasing tax rates on carried interest (the profits funds managers earn on thier portfolios, which currently are taxed at 15%).  At the end of last week, he announced his intention to reintroduce legislation that would make carried interest taxable at ordinary income rates.  Calling the tax on carry at capital gains a “loophole” is a little misleading in my mind, but that’s politics. 

His website also includes a timeline summary of the prior (failed) legislation attempts:Continue Reading Carried Interest Tax Legislation Won’t Go Away