U.S. Senate Finance Committee Chair Ron Wyden (D-OR) has issued a release announcing the introduction of the draft Ending the Carried Interest Loophole Act with Senator Sheldon Whitehouse (D-RI) on 5 August 2021, which would close the current carried interest loophole that allows the recharacterization of income from wage-like income to lower-taxed investment income and the deferral of tax payments. --- Ending the Carried Interest Loophole Act Overview For over a decade, Congress has debated carried interest, a favorite loophole of private equity, real estate, and hedge fund managers. This tax preference has allowed the wealthiest Americans to pay much...