Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Wall Street, GOP Team Up on Tax Bill

Proposal would raise tax rate for private-equity profits from 15% to 35%

By Max Brallier, Newser User

Posted Jun 28, 2007 8:52 AM CDT

(Newser) – Wall Street stormed Washington yesterday, as more than 70 lobbyists for financial firms met with GOP lawmakers to organize opposition to a bill that would raise the tax rate on private-equity partners. The proposal would require managers at private partnerships to pay the normal income... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Wall Street Journal (Source Grid »)

House Democrats line up behind private-equity tax bill
Wall Street Journal Subscription

US • Money • Politics

private equity • Wall Street • Republican • taxes • GOP • Henry Paulson • finance

More Newser Stories

Scott Brown Got Late Push From Wall Street

Financial firms poured $450,000 into his Senate campaign

(NEWSER) - In the 6 days before the special election for US senator from Massachusetts, employees of financial companies gave a whopping $450,000 to Scott Brown. The donations came just after President Obama proposed a fee on Wall Street’s biggest players to help pay back lost TARP funds. The influx of cash to the GOP candidate could portend a major push to both kill financial regulation and elect Republicans this fall, the Boston Globe reports. More»

Paulson, Wall Street Execs Let Lehman Die

11th-hour meeting exhausted all possible rescue options for investment firm

(NEWSER) - As the dust settles on Wall Street, details of the final frantic negotiations on Lehman Brothers reveal that Henry Paulson’s opposition to a government bailout ultimately sealed the investment bank’s fate, the Journal reports. Paulson summoned an emergency meeting of 30 Wall Street executives Friday to definitively state that taxpayer rescue wasn’t coming, and urged them to work on saving Lehman. More»

BofA Could Partner With China Fund on Lehman Bid

Bankruptcy remains possibility for firm

(NEWSER) - Bank of America could partner with financial investor JC Flowers and a Chinese sovereign wealth fund on a bid to rescue Lehman Brothers, the Financial Times reports. The hobbled investment bank had resisted selling itself, but is now eagerly seeking suitors before the last of its goodwill on Wall Street dries up. More»

Credit Crunch Rocks LBOs

Fears of risky debt ripples through global markets

(NEWSER) - Leveraged buyouts, which have fueled Wall Street booms with offers of huge premiums on shares of target companies, are sputtering to a halt, the Wall Street Journal reports. Private equity firms, which just weeks ago were predicting acquisitions worth $100 billion and more, are now finding large-scale borrowing too expensive to make deals worthwhile. More»

'Masters of the Universe' Sure Have Fragile Egos

It would be funny, if it weren't so 'shameful': Paul Krugman

(NEWSER) - Paul Krugman has some choice words today for the titans of Wall Street, who can't seem to take a little criticism from the president. "It has, in a way, been funny to see how childish and thin-skinned the Masters of the Universe turn out to be," he writes in the New York Times . But given the mess that these bailed-out "spoiled brats" have caused, it's actually "shameful" that they're more concerned about their reputations than solutions. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Wall Street, GOP Team Up on Tax Bill

Proposal would raise tax rate for private-equity profits from 15% to 35%

private equity • Wall Street • Republican • taxes • GOP • Henry Paulson • finance

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Scott Brown Got Late Push From Wall Street

Financial firms poured $450,000 into his Senate campaign

Paulson, Wall Street Execs Let Lehman Die

11th-hour meeting exhausted all possible rescue options for investment firm

BofA Could Partner With China Fund on Lehman Bid

Bankruptcy remains possibility for firm

Credit Crunch Rocks LBOs

Fears of risky debt ripples through global markets

'Masters of the Universe' Sure Have Fragile Egos

It would be funny, if it weren't so 'shameful': Paul Krugman

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?