Media Coverage
Source: Fortune
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
05.27.25
When Republicans passed Donald Trump’s “one big, beautiful” tax bill on Thursday, they included provisions to partially offset the costs. One area lawmakers didn’t touch: the so-called carried interest rule that currently restricts long-term capital gain treatment for assets held for more than three years to private equity, venture capital and hedge fund managers.
“What came out of the House this morning doesn’t affect carried interest. The current carried interest will stay,” said Mark Leeds, a Tax partner at Pillsbury.
It’s still too early for private equity to claim victory, however. The tax bill will now head to the Senate, which will likely make modifications before the legislation is handed to President Trump to sign. “It’s possible the Senate could still make changes to carried interest,” Leeds said.
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