Congressmen Debate Carried Interest Tax

Congressmen Sanders Levin (D-MI) and Tom Reynolds (R-NY) squared off last night on CNBC, over possible changes to carried interest tax treatment. Levin was the original sponsor of a House bill that would reclassify carried interest as ordinary income from capital gains, while Reynolds has been leading the opposition via a blog (Reynolds posted the video). Standard talking points from both sides, and further indication that this debate is alive and well in the nation’s capital.[youtube=http://youtube.com/watch?v=zruqiMZ9khQ home=true]