PEGCC Statement on President’s Budget Proposal to Raise Carried Interest Tax Rate
WASHINGTON –Today, Steve Judge, President and CEO of the Private Equity Growth Capital Council made the following statement in response to the president’s budget proposal to raise taxes on carried interest:
“Private equity is a vital source of capital, having invested nearly $150 billion in over 1,200 companies in 2010 alone. While it comes as no surprise that the president has included a carried interest tax hike in his budget proposal, the fact is that raising taxes on private equity investments would discourage the risk-taking required to start, grow, and save companies. Proposals to change the carried interest tax rate on private equity, real estate and venture capital, have been defeated on a bipartisan basis a number of times over the last five years and even with the highly-charged election year rhetoric it is uncertain that such a proposal will gain traction this congress.”
