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Ending Tax Break for Investment Fund Managers

This act changes how income from "carried interest" (profits from investment funds received by managers) is taxed. The goal is to increase tax revenue from these earnings by treating them as ordinary income rather than capital gains. For citizens, this could mean more government revenue for public services.
Key points
Income from "carried interest" for investment fund managers will be taxed as ordinary income, not capital gains.
The change applies to partnership interests transferred after the act's enactment date.
New rules are introduced for calculating the value of these interests and their impact on taxable income.
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Status:
Expired
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Additional Information
Print number: 117_S_2617
Sponsor: Sen. Wyden, Ron [D-OR]
Process start date: 2021-08-05
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Ending the Carried Interest Loophole Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2617.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-08-05.

What are the main provisions?

Key points include:

  • Income from "carried interest" for investment fund managers will be taxed as ordinary income, not capital gains.
  • The change applies to partnership interests transferred after the act's enactment date.
  • New rules are introduced for calculating the value of these interests and their impact on taxable income.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Wyden, Ron [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Economy