I recently received an email from a friend asking for a status report on a couple of the securities and tax law issues that I have been twittering about as they’ve flowed through the political system. Below is a “political action scorecard” on the issues I’ve been following.
|Carried Interest Tax Hike Proposal||This proposal was in the tax extenders bill the Senate couldn’t pass after three tries; it is unclear whether this will be included in another bill.|
|Temporary Repeal of Capital Gains on QSB Stock||This proposal was passed by the House; I am not sure when it may be taken up by the Senate. It may become part of the small business bill to be taken up by the Senate next week.|
|New S corporation taxes||This proposal was in the tax extenders bill the Senate couldn’t pass; it is unclear whether this will be included in another bill.|
|Exclusion of primary residence from “accredited investor” definition||I believe this was in the conference committee agreed upon financial regulatory reform bill, but we haven’t seen the actual language yet to confirm.|
If you have any news to share on the status of these various proposals, please share so that I can update the scorecard.