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06.16.17

IFPTE is One of 23 Labor Organizations Urging Congress to Eliminate ‘Carried Interest’ Tax Loophole

This week IFPTE joined with 22 other labor unions in signing a letter urging members of Congress to cosponsor the "Carried Interest Fairness Act of 2017" (S. 1020 & H.R. 2295). The letter, which went to all Senators and House members, informs lawmakers that the legislation would “eliminate an unfair federal tax loophole that benefits a tiny sliver of the wealthiest 1% by ensuring multimillionaire hedge fund managers and private equity fund managers pay their fair share of taxes.” As it stands now, fund managers who take advantage of the carried interest tax loophole pay a significantly lower marginal tax rate on carried interest income than millions of workers pay on wages.

Read the letterfrom IFPTE and 22 otehr unions asking Congress to support the Carried Interest Fairness Act

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