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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
Bloomberg business news
Biden Plan May End Private Equity's Most Lucrative Tax Break

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.