It is expected that the Senate will lower the House tax increase on fund managers. The increase will still be substantial with assets held longer than seven years being taxed at 33% and shorter than that taxed at 31%. Carried interest has been a heated debate and the current tax rate for assets held over one year is only 15%.
To read a related Bloomberg article, please click here:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAhjvg88AyuA&pos=9
Jim Sutliff