Private-equity executives, who spent millions of dollars successfully fighting efforts to raise taxes on their investment profits, may not escape a new 3.8 percent levy in President Barack Obama’s health-care law.
It isn’t unusual for Mitt Romney to be interrupted by hecklers at campaign stops. On the Sunday before the New Hampshire primary, his rally in Exeter was briefly held up when a group of Occupy Wall Street protesters began chanting “Mitt kills jobs!”
Representative Sander Levin outlined a new proposal in his five-year effort to increase the tax rate that private equity managers and other investment executives pay on their so-called carried interest earnings.
President Barack Obama asked lawmakers to again consider increasing taxes for high earners, private equity managers and oil and gas companies to pay for his $447 billion job-creation package, running into Republican resistance along the way.
Private equity executives won a major concession in a battle with the Obama administration over plans to raise taxes when selling stakes in their firms, potentially saving billionaires such as Stephen Schwarzman and David Rubenstein hundreds of millions of dollars.
The buyout industry, seeking to contain damage as Mitt Romney draws criticism over his role at Bain Capital LLC, plans to counter perceptions that firms profit at the expense of workers, according to a person familiar with the plans.