HR 2686
Ending Wall Street Tax Giveaway Act
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Bill overview
The Ending Wall Street Tax Giveaway Act aims to change how carried interest, a common form of compensation for private equity and hedge fund partners, is taxed. It proposes to treat carried interest as ordinary income, similar to wages, rather than the current preferential tax rate. The bill also includes provisions to clarify the tax treatment of partnership interests transferred for services, exempt certain family partnerships, and increase penalties for underpayment of taxes related to investment services partnerships.
Sponsors
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Primary sponsor
Bill, Jr. Pascrell
Cosponsors
Donald S., Jr. Beyer
Katie Porter
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