Taxes

Biden’s Plan Would Eliminate Private Equity’s Coveted Tax Break

  • Fund managers should pay ‘ordinary income rates’ like workers
  • Industry successfully blunted past moves; Congress to decide
Biden Plan May End Private Equity's Most Lucrative Tax Break
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Private equity’s most lucrative tax break is in peril once more.

Included in President Joe Biden’s plan to fund an ambitious expansion in social spending, released Wednesday, is a call on Congress to abolish the preferential treatment given to a key method of compensation for private equity managers.