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Congress Proposes Private Equity Tax

Several Democratic congressmen today introduced legislation that would change the tax treatment of carried interest — from capital gains to ordinary income. It would apply to all “investment management firms” — which would include venture capital funds, mezzanine funds, growth equity funds buyout funds, hedge funds and real estate funds. You can download the bill here, along with a fact sheet from sponsor Rep. Sander Levin (D-MI).