Private equity and hedge funds are set to feel the sharp end of Obama’s sickle as he erases a tax loophole that many managers take significant advantage of.
Carried interest taxes are set to see a new push as the administration has made it a centrepiece of its budget plans to raise more tax money.
This means a switch from carried interest being charged a paltry 15% to the highest tax bracket, according to Dealbook.
Hedge fund and PE guys have already told us that this plan is “ignorant,” so its unlikely they’ll be pleased that it is being pursued with more vigor.
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