Lawmakers looking at taxes on sovereign-wealth funds

03/14/2008 | Financial Times (free content)

Senate Finance Committee Chairman Max Baucus, D-Mont., and Sen. Charles Grassley, R-Iowa, are asking questions about how U.S. investments by sovereign-wealth funds are taxed. The questions signal that the issue of sovereign-wealth funds could gain momentum in coming months on Capitol Hill. The U.S. does not currently tax passive investment income of foreign, state-owned funds.

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