Report: Harm From Carried Interest Tax Would be Widespread

Last week, the U.S. Chamber of Commerce released the second part of a study further illustrating the negative economic impact that increasing taxes on carried interest could have on America's ability to grow and compete in a global economy. In addition, according to the study, the tax increases would bring in approximately $23 billion less than Congress has calculated as more businesses change their business model to avoid the higher taxes.

The study by Dr. John Rutledge finds that the currently proposed increase would:

Harm small businesses that do not have access to traditional financing, hurting the overall economy.
Decrease the value of partnership assets by potentially $300 billion, directly impacting the 16 million people invested in 2.8 million partnerships as of 2005.
Especially damage real estate partnerships that account for 46% of all partnerships and bring $4.3 trillion of investment into the U.S. real estate sector.

Read the full report.

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