Democrats have been trying to raise taxes on carried interest for 15 years. They might actually do it.
Senate Democrats are poised to raise taxes on a key source of private-equity managers’ income, capping a 15-year quest to close what many lawmakers see as an egregious gap in the tax code.
The tax increase on fund managers’ carried-interest income, which is tied to the performance of investments when they are sold, had seemed dead until late Wednesday. But then Sens. Joe Manchin and Chuck Schumer included it in a
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