House Democrats Re-introduce Bill To End ‘Carried Interest’ Tax Break For Investment Managers

On Tuesday, House Democrats, including Reps. Bill Pascrell (D-New Jersey), Andy Levin (D-Michigan) and Katie Porter (D-California), reintroduced a bill that could end the carried interest tax break for investment managers. In a news release, Pascrell commented on the proposed change: “This year, millions of Americans are struggling to survive and are entitled to a fairer tax system. This loophole has survived too long and we are going to push hard to see that it is finally closed.” Levin added, “Wall Street bigs should not pay lower tax rates than nurses and teachers. Let’s close the carried i…

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