Congress hears mixed testimony on carried-interest tax hike

Opponents of a proposal that would double tax rates for private-equity firms and hedge fund managers warned that bills now being considered by Congress would hurt the economy and markets, but pension experts conceded that would have a negligible impact on pensioners' returns. The revelation was significant, as critics of the bill had maintained the cost of additional taxes would be passed on to investors. Congress is considering ending a tax loophole for carried interest.

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