House Ways and Means Committee Ranking Member Sander Levin (D-Mich) has indicated that he will reintroduce legislation to tax carried interest compensation at the same ordinary income tax rates. Although the legislation is targeted at hedge fund managers, if enacted as proposed, it could have a significant consequences for multifamily and affordable housing developers, most of which are investment partnerships and many of which utilize a carried interest structure. In effect, such legislation would amount to a tax increase on commercial real estate.
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