Patriotic Millionaires Challenge Carried Interest Top Lobbyist To Public Debate

Patriotic Millionaires Challenge Carried Interest Top Lobbyist To Public Debate

Today, Morris Pearl, Chair of the Board of the Patriotic Millionaires, challenged Michael Sommers of PEGCC to a public debate on the carried interest tax loophole, the policy which allows fund managers to pay a lower tax rate than most other Americans.

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Boehner Right-Hand Man Mike Sommers Carries (Industry) Interest on Carried Interest

Boehner Right-Hand Man Mike Sommers Carries (Industry) Interest on Carried Interest

Last week, the Private Equity Growth Capital Council announced Mike Sommers, former Chief of Staff to Speaker of the House John Boehner, as its incoming president and CEO. The trade association has been at the center of a battle over the carried interest loophole, a ridiculous rule in our tax code that allows managers of private investment funds to pay capital gains rates on money they earn managing other people’s money.

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