President Barack Obama’s budget proposal includes changing the tax treatment of a buyout pro’s profits to ordinary income instead of its current capital gains rate. The tax would raise $14.8 billion over 10 years. (Link to tax proposal below.)
Bloomberg BusinessWeek notes that the proposal appears to be a scaled-back version the Senate considered last year, as the president’s previous budget’s proposal on carried interest would have raised $24 billion over 10 years.
More to come. See Table S-8, on page 186, of the 216-page document.