Wake up to Mike Allen’s AM, the 10 stories driving your day

Stories

House GOP adding (a little bit of) carried interest tax reform

House Ways and Means chairman Kevin Brady, R-Texas, speaks during an interview with The Associated Press. Photo: Susan Walsh / AP

Rep. Kevin Brady (R-TX), chairman of the House Ways & Means Committee, this morning told CNBC that there will indeed be a carried interest provision added to the House GOP tax plan. But rather than deal with the underlying issue of treating a fee for service as a capital gain, the mark-up simply will just change the length of what constitutes a long-term capital gain for carried interest from one year to two years.

Bottom line: This move might bite some hedge fund managers, but won't touch the vast majority of venture capital, private equity, real estate, timber or energy fund investment managers.

More stories loading.