Politics

U.S. mayors caution against tax increase on carried interest

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The U.S. Conference of Mayors has weighed in against a tax increase on a common payment for hedge fund managers. The organization, which represents the nation’s largest cities, cautions that the tax on carried interest would “disproportionately impact the commercial and multi-family real estate industry.”

Democrats in the House are looking at the tax increase as a revenue raiser to offset the expense of several other measures, including an extension of unemployment benefits.

Under the bill, the real estate world, along with hedge fund managers and venture capitalists, would incur a phased-in tax increase on carried interest.

Full story: U.S. mayors caution against tax increase on carried interest – The Hill’s On The Money