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Obama Renews Carried Interest Tax Fight With Republican Help

US President Barack Obama speaks during the National Clean Energy Summit 8.0 in Las Vegas, Nevada, August 24, 2015.

US President Barack Obama speaks during the National Clean Energy Summit 8.0 in Las Vegas, Nevada, August 24, 2015.

JIM WATSON/AFP/Getty Images
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President Barack Obama, seizing on a lifeline from Republican presidential candidates, is dusting off his campaign to end a tax break exploited by private-equity managers, venture capitalists and some hedge fund executives.

Using the backdrop of a budget fight with Congress that is threatening a government shutdown, Obama made his pitch to some of the nation’s top chief executives to tax income earned by fund managers, called carried interest, as ordinary income instead of capital gains.