Bill Cuts Tax Break for Private-to-Public Equity Firms

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Private equity firms planning to go public may not be able to take their favorable tax status with them.

A bill introduced in the Senate would require private equity firms to pay the regular corporate tax rate rather than the much lower "capital gains" rate they currently pay.

The sponsors – Sens. Charles Grassley (R-IA) and Max Baucus (D-MT) — say they are motivated by The Blackstone Group's plan to go public later this month.

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