U.S. Senate Finance Committee Chair Ron Wyden (D-OR) has issued a release announcing the introduction of the draft Ending the Carried Interest Loophole Act with Senator Sheldon Whitehouse (D-RI) on 5 August 2021, which would close the current carried interest loophole that allows the recharacterization of income from wage-like income to lower-taxed investment income and the deferral of tax payments.
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Ending the Carried Interest Loophole Act
Overview
For over a decade, Congress has d…