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Last updated 9:39PM ET
March 5, 2021
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Hedge Funds Taxes
(wgvu) - Michigan Congressman Sander Levin and other
House Democrats introduced a bill today to raise taxes on managers
of hedge funds and private-equity companies.
The bill came as shares in the private equity company Blackstone
Group rose 20 percent in its four (B) billion-dollar initial public
stock offering.
Hedge fund and private-equity fund managers pay taxes at a 15
percent rate, the rate for capital gains.
Levin's bill would raise the rate to 35 percent, the level for
income tax.
Other sponsors are House Ways and means Chairman Charles Rangel
and Financial services Chairman Barney Frank.
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