Friday, 27 November 2015
Last updated 1 day ago
Jul 25 2008 | 8:32am ET
If at first, or second, or third, you don’t succeed, try to raise taxes on hedge fund managers again.
Senate Democrats will again try to push through a tax bill, which would place new limits on deferring taxes on offshore compensation next week. Sen. Max Baucus (D-Mont.), chairman of the Senate Finance Committee, released a new version of the bill last night, which includes billions in tax credits and would keep the alternative-minimum tax from spreading to more taxpayers this year.
Baucus’ bill would offset $16.8 billion in energy-related incentives and research and development tax credits by limiting tax-deferred offshore compensation and delaying for a decade a tax change benefiting multinational corporations. Those two changes would net $54 billion in new revenue over 10 years. Unlike earlier bills, it does not attempt to increase taxes on “carried interest” or offset the loss in revenue from the AMT patch.
Republicans have refused to back similar bills to date, arguing that the lost revenue does not need to be replaced, but Baucus’ latest effort includes $5 billion in disaster relief funds, which could sway Midwestern senators whose home states have been hit by recent flooding.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…