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President Barack Obama is planning on proposing that the carried interest earned by hedge fund and private equity fund sponsors be taxed at ordinary income tax rates rather than at the capital gains rate
On September 7, 2007, Rep. Sander Levin (D-MI) issued a draft bill (H.R. 3501) that would allow tax-exempt organizations to invest directly and tax-efficiently into private equity and hedge funds, eliminating the need to use offshore corporations in these investments
