Wednesday, 3 June 2015
Last updated 9 hours ago
Nov 12 2007 | 1:03pm ET
The U.S. House of Representatives last week passed a controversial tax reform bill that would increase the levy on alternative investment managers by almost $50 billion over the next decade.
“We planted the flag of fiscal responsibility,” House Speaker Nancy Pelosi (D-Calif.) said, “as we gave a tax cut to the middle class.”
Eight Democrats joined 185 Republicans in voting against the measure, championed by Rep. Charles Rangel (D-N.Y.). But it wasn’t enough to sink the measure, which passed by a vote of 216 to 193. But the bill, which has faced withering criticism from Republicans, is unlikely to get through the Senate. Even if it did, President Bush had threatened to veto it.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…