(Reuters) - Throwing down a challenge to some of the nation's savviest and richest financiers, the bill would set a higher tax rate for "carried interest." That is the 20-percent cut of profits beyond targeted returns typically kept by senior managers of private equity firms and other firms on major transactions.
The bill, introduced with the backing of two senior Democratic committee chairmen, ratcheted up a confrontation between Congress and the booming private equity sector, a driving force behind a global surge in corporate buyouts.
Read more at Reuters.com Business News
The bill, introduced with the backing of two senior Democratic committee chairmen, ratcheted up a confrontation between Congress and the booming private equity sector, a driving force behind a global surge in corporate buyouts.
Read more at Reuters.com Business News
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