United States Congress Joint Committee on Taxation

Attaking Tax Loopholes, Obama Takes Aim at Carried Interest

On Sunday, President Obama went on the offensive against the carried interest tax rate. In a nutshell, this tax break allows super-rich hedge fund managers to sidestep a large portion of their tax bills with Wall Street slight of hand.

Senate Set for Symbolic Showdown on Tax Cuts

The Senate is bracing for a tax-cut showdown that is all about Democrats and Republicans showing voters their differences over taxing the well-off while accusing each other of threatening to shove the government over a fiscal cliff.