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Wednesday, September 05, 2007
300+ Groups Send Carried Interest Letter to Congress
More than 300 state, local, and national organizations sent a letter today to every member of Congress, urging them to support H.R. 2834, the bill intoruced by Rep. Sander Levin (D-MI) to close the tax loophole that allows fund managers to pay capital gains tax rates on the portion of their compensation for management services known as "carried interest." There is no other profession or sector that enjoys this tax preference.
OMB Watch is pleased to be among the letter's signatories. The issues involved -- tax equity and fiscal responsibility -- are close to the core of OMB Watch's mission.
The letter is timely, arriving at congressional offices the day before both the House Ways and Means and Senate Finance committees will be taking up carried interest and related tax equity issues at hearings tomorrow at 10 a.m.
For the Carried Interest sign-on letter, click here.
For the OMB Watch press release accompanying the letter, click here.
Posted by Dana Chasin
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