• Baucus and Levin Release Revised Carried Interest Legislation
  • May 27, 2010 | Authors: Richard J. Bronstein; David W. Mayo; Peter J. Rothenberg; Jeffrey B. Samuels; David R. Sicular
  • Law Firm: Paul, Weiss, Rifkind, Wharton & Garrison LLP - New York Office
  • On Thursday, May 20, 2010, Senate Finance Committee Chair Max Baucus (D-Mont.) and Acting House Ways and Means Committee Chair Sander M. Levin (D-Mich.) jointly released proposed statutory language for the American Jobs and Closing Tax Loopholes Act of 2010 (the “Bill”), which includes proposed changes to the taxation of carried interest. House leaders have indicated that they intend to bring the legislation to vote early next week, although the legislative process beyond that is uncertain. It is possible that the proposed statutory language will continue to evolve or even that the provision will not be enacted as part of the Bill.