Manchin, Baldwin, Brown Lead Effort To Close Carried Interest Tax Loophole
April 15, 2024
April 15, 2024
WASHINGTON, April 15 -- Sen. Joe Manchin, D-West Virginia, issued the following news release:
Today, U.S. Senators Joe Manchin (D-WV), Tammy Baldwin (D-WI), and Sherrod Brown (D-OH) introduced the Carried Interest Fairness Act of 2024 to eliminate a tax loophole that allows wealthy investment managers to evade paying their fair share of taxes.
The current carried interest loophole allows these money managers to pay the lower 23.8 percent capital gains tax rate on income . . .
Today, U.S. Senators Joe Manchin (D-WV), Tammy Baldwin (D-WI), and Sherrod Brown (D-OH) introduced the Carried Interest Fairness Act of 2024 to eliminate a tax loophole that allows wealthy investment managers to evade paying their fair share of taxes.
The current carried interest loophole allows these money managers to pay the lower 23.8 percent capital gains tax rate on income . . .