Bush, Lawmakers Resist Calls to Raise Taxes on Hedge Funds, Buyout Firms

(Bloomberg) -- The Bush administration and several
top lawmakers signaled that they may not support a push in
Congress to increase taxes on buyout firms and hedge funds.

Eric Solomon, assistant Treasury secretary for tax policy,
told the Senate Finance Committee yesterday that proposed
legislation to increase the tax rate paid by some partners in
hedge funds and private-equity firms would undermine the
competitiveness of American businesses. The danger to U.S.
competitiveness was a theme echoed by senators on the committee,
including Democrat Charles Schumer of New York.


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