Talking Carry with Congressman Reynolds
Yesterday, I wrote that Obama’s victory signaled the coming end of carried interest being treated as capital gains. It’s a change that I have publicly supported for more than a year, but I still wanted to check in with its most vocal opponent, Congressman Tom Reynolds (R-NY). Reynolds did not stand for reelection this time around, and will be one of several GOP departures from the House Ways & Means Committee (Phil English, Jerry Weller, Jon Porter, Ron Lewis). He said that the shakeup will make it more difficult for Republicans to effectively fight Democratic efforts to change tax policy, but that the Committee still has “fine leaders” like Eric Cantor and Paul Ryan. "I think everything is now on the table,” Reynolds says. “The private equity carried interest issue was out front, and any time you have exposure to potential revenues, it never goes
