• Baucus Releases Revised Carried Interest Legislation
  • June 17, 2010 | Authors: Richard J. Bronstein; David W. Mayo; Peter J. Rothenberg
  • Law Firm: Paul, Weiss, Rifkind, Wharton & Garrison LLP - New York Office
  • On Tuesday, June 8, 2010, Senate Finance Committee Chair Max Baucus (D-Mont.) released a substitute amendment (the “Senate Amendment”) to the American Jobs and Closing Tax Loopholes Act of 2010, which passed the House of Representatives on May 28 (the “House Bill”). The Senate began debate on the Senate Amendment today. The language of the Senate Amendment regarding the taxation of carried interest is similar to the language included in the House Bill, with several notable differences.