Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Reveal Navigation

Deal Near On Extenders Provision Deal Near On Extenders Provision Deal Near On Extenders Provision Deal Near On Extenders Pr...

share
This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

NJ Daily

Deal Near On Extenders Provision

June 7, 2010

Senate Democratic negotiators are close to an agreement to ease the bite of a proposed tax increase on investment fund managers, according to congressional aides. The House-passed "extender" bill would have taxed fund manager profits at a blend of 75 percent ordinary income rates and 25 percent capital gains after an initial two-year transition period. An emerging Senate compromise being worked out by Finance Chairman Max Baucus, Sen. Robert Menendez, D-N.J., and other panel members would lower the portion subject to ordinary income rates to 65 percent, but with a twist: The rate on the sale of investments held longer than seven years would see a reduction to 55 percent ordinary income in the emerging compromise. Aides cautioned that the proposal was not yet final, but one aide remarked that a deal is "coming together."

Get us in your feed.
 
Comments
comments powered by Disqus