Thursday, April 15, 2010

Senate considers tax rise on buyout-firm managers, Schumer says

WASHINGTON (Bloomberg) - The U.S. Senate, seeking funds for jobs bills and other initiatives, will consider adopting a House proposal to more than double tax rates on executives at private- equity firms, said Senator Charles Schumer, a New York Democrat.

The proposal, projected to raise $24.6 billion over a decade, would affect venture capitalists, managers of real- estate partnerships, and hedge-fund managers who make long-term investments. Passed by the House three times, most recently in December as part of a jobs bill, it hasn't come to a vote in the Senate, where some Democrats have signaled they would oppose it.

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