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  Senators Cautious On Plan for Equity Tax
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ContributorArmyDem 
Last EditedArmyDem  Sep 04, 2007 06:31pm
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MediaNewspaper - Washington Post
News DateWednesday, September 5, 2007 12:30:00 AM UTC0:0
DescriptionHearing to Set Tone for Course on Higher Rates Paid by Fund Managers

By Jeffrey H. Birnbaum
Washington Post Staff Writer
Tuesday, September 4, 2007; Page D01

The spring rush to raise taxes on private-equity firms and hedge funds has turned into a crawl as congressional tax writers, particularly in the Senate, take a cautious approach to crafting the legislation.

As lawmakers return today from their summer break, the boldest version of the tax legislation appears to have a good shot at passing in the House before year's end, but its prospects in the Senate are not as strong, and President Bush is also likely to have reservations about the measure.

In interviews last week, the chairman and the ranking Republican on the Senate Finance Committee said they had not decided whether they favor raising tax rates on the profit paid to fund managers, called carried interest, and therefore will go slowly on the issue.
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