The Senate has released its version of the tax extenders bill, and a summary. It has changed the taxation of the carried interest as approved by the House. The change is summarized below. Links to the summary of the bill and bill are also below. There appears to have been no change made to the onerous S corporation tax provisions.
You can also find links to both at this site.
From the summary regarding the taxation of carried interest:
Taxation of Carried Interest. This modification decreases the amount of carried interest that is recharacterized as ordinary income from 75 percent to 65 percent and increases the amount treated as capital gains from 25 percent to 35 percent in taxable years beginning after December 12, 2012. The change further decreases the amount of carried interest that is recharacterized as ordinary income to 55 percent and increases the amount treated as capital gains to 45 percent for gain or loss attributable to the sale of an asset which is held for 7 or more years. Another modification provides that a non-service individual or widely held regulated investment company who sells an interest (held directly or indirectly through a partnership, S corporation, estate, trust) in an energy-related publicly traded partnership is exempt from recharacterization as ordinary income under Internal Revenue Code section 751(a) that portion of the gain or loss attributable to investment services partnership interests held by the publicly traded partnership. With these modifications, this provision is estimated to raise $14.453 billion over 10 years.