Game On: Floor Debate Begins on Carried Interest Tax Change
The U.S. House of Representatives has just begun floor debate on the so-called “tax extenders bill" (HR 4213), which is where the carried interest tax change is housed. You can watch it live at http://houselive.gov There has been a lot of back-and-forth movement on this issue over the past 24 hours, including possible changes to that 75/25 split and possible changes to when the change would become effective. It is expected to come to a vote today, at which point the Senate can have at it (even though they aren’t expected to get to it before recess). Yesterday we published a letter sent by the NVCA to its members, which basically highlighted the legislation’s state of flux. A reader commented that “This must be killing you Dan, you really wanted to see the ‘VC carry’ get taxed as ordinary income.”
