House Passes Carried Interest Tax Increase

(Reuters) – The House of Representatives on Friday passed a scaled-back stimulus package of tax breaks and safety-net spending that would raise taxes on fund managers and multinational corporations.

By a vote of 215 to 204, the House approved a bill that aims to bring down the nation’s 9.9 percent unemployment rate. It includes $48 billion in new taxes to offset the $79 billion cost of tax breaks and safety-net spending.

It would add $31 billion to the budget deficit over 10 years, according to the nonpartisan Congressional Budget Office.