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Senate Democrats Scale Back Tax Increase on Wall Street

HeadlineJun 10, 2010

In other news from Capitol Hill, Senate Democrats are working to scale back a Wall Street tax increase already approved by the House. The deal will affect the tax rate paid on profits by managers of hedge funds, private-equity funds, venture capital firms and other business. Last month, the House adopted a tax rate of about 35 percent. The Senate is proposing lowering the tax rate to between 31 and 33 percent.

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