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 * Politics


HOW THE PRIVATE-EQUITY LOBBY WON—AGAIN


SENATE DEMOCRATS WANTED TO CHANGE THE TAX RATE ON CARRIED-INTEREST INCOME. THE
INDUSTRY LOBBY KNEW HOW TO PUSH BACK.

SEN. KYRSTEN SINEMA (D., ARIZ.) DEMANDED THAT DEMOCRATS DROP THE PROPOSED CHANGE
TO THE CARRIED-INTEREST TAX BREAK.

Photo: Michael Brochstein/Zuma Press
By
Julie Bykowicz in Washington and
Miriam Gottfried in New York
Aug. 7, 2022 6:00 am ET

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Private-equity lobbyists call it the tax-code provision with nine lives.

The tax rate on carried-interest income survived another potential whack last
week when Democrats acceded to a demand by Sen. Kyrsten Sinema (D., Ariz.) that
a proposal chipping away at it be cut from the Senate Democrats’ tax-and-climate
bill.

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