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Orszag Expects Higher Taxes On Carried Interest -NYT

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White House Budget Director Peter Orszag said Wednesday he expects Congress to increase taxes on carried-interest income, The New York Times reports on its DealBook blog. Hedge funds, venture capital firms and private equity firms earn profit through carried interest by selling their interest in other companies and investments. The tax rate on carried interest is 15%.

"I believe that there will be some legislative changes in carried interest, although the exact parameters are still being negotiated," the Times quoted Orszag as saying at a conference in New York. "But I think you're going to see a change in the taxation of carried interest pass the Senate within the next few weeks."

Full story at http://dealbook.blogs.nytimes.com/2010/05/12/obama-aide-sees-higher-taxe...

-Dow Jones Newswires; 212-416-2900

 

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