A popular tax break among investment fund managers and especially private equity partners is a top target for Democrats seeking to shine a spotlight on wealthy tax avoidance.
Sen. Tammy Baldwin (D-Wis.) and more than a dozen Senate Democrat colleagues Thursday reintroduced legislation ending the break on carried interest. The break allows investment managers to pay the lower capital gains tax rate of up to 23.8% on income received as compensation, instead of the ordinary income tax rate of up to 40.8% they’d pay for the same amount of wage income.
President Donald Trump has long talked about ending the ...
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