Private equity gets new ally in tax fight

09/5/2007 | Wall Street Journal, The

The newly formed Access to Capital Coalition, made up of minority and women's business groups, is urging Congress to drop proposals to end a tax loophole for carried interest and raise taxes on hedge funds and private-equity firms. The groups said such a move would limit investment in low-income and developing areas, an argument that echoes those of congressional opponents of the measures now being considered. "The hope would be, as they have a better understanding of the potential impact on many of the communities that they themselves represent, they'll be able to make a more informed decision around whether or not the proposed legislation is achieving the objectives they hope," said Brian Mathis, managing director of Provident Group Asset Management.

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