RepWelchHearing

Carried Interest Loophole Bill Passes Out of Committee

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On Thursday, March 23rd, the Illinois House Revenue Committee passed HB 3393 7 to 4.

Part of the Illinois People’s Agenda Legislative Platform, HB 3393 would put a “privilege” tax on Wall Street Money Managers who exploit the federal carried interest tax loophole. Conservative estimates predict this tax would generate $473 million a year for the state of Illinois, money our state needs to pay for vital programs and services.

Following its passage out of the House Revenue Committee, HB 3393 now waits for a full vote on the House Floor.

Send a letter to your state representative asking them to support HB 3393 when it comes for a vote.

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