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The Carried Interest Loophole Survives Another Political Battle

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“Carried interest has become the MacGuffin of the I.R.A. saga,” said James Lucier, an analyst at Capital Alpha Partners, a policy research firm in Washington, describing it as a literary device that authors include merely to make plots more interesting. “The MacGuffin distracted attention from the really important things going on in the story to make the startling conclusion even more surprising in the end.”

On Friday, some progressive policy experts shrugged off the elimination of the carried interest provision, which they considered only a modest improvement over current law.

“The proposal that was in the bill until last night made a technical adjustment in the holding period for assets that qualified for carried interest treatment,” said Jean Ross, a senior fellow at the Center for American Progress, a liberal research group in Washington. “A better approach would tackle the issue head-on and say that compensation for services managing an investment fund should be taxed like work and subject to ordinary tax rates.”

Ms. Ross added that she was pleased by the addition of the tax on stock buybacks, which some Democrats and their allies have long supported, arguing that companies are spending too much money buying back their own shares, rather than investing in research and development or giving workers raises.

Ms. Sinema herself has said little about why she considered it so important to preserve the carried interest tax treatment. She has said that she plans to work on legislation with Senator Mark Warner, Democrat of Virginia, to address the loophole. But if the legislation is not included in the current package, which is being fast-tracked under an arcane budget process, any reform will require support from at least 10 Republicans.

“I think we reached agreement that there are areas where there’s been abuse,” Mr. Warner said in an interview, adding, “I’m disappointed it didn’t get in this bill, but I’m looking forward to working with Senator Sinema — and others — to see if we can address this.”

In a statement on Thursday, Ms. Sinema said, “We have agreed to remove the carried interest tax provision, protect advanced manufacturing and boost our clean energy economy in the Senate’s budget reconciliation legislation.”

Emily Cochrane contributed reporting.

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A journalist since 1994, he also founded DMGlobal Marketing & Public Relations. Glover has an extensive list of clients including corporations, non-profits, government agencies, politics, business owners, PR firms, and attorneys.

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OAKLAND: Safeguarding Your Business

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OAACC partners with PNC Bank offering a variety of topics for business owners. FREE event, but please RSVP NOW for planning purposes.

By Oakland African American Chamber of Commerce (OAACC)

(OAKLAND – April 10, 2023) – OAACC is pleased to invite members of local multicultural chambers of commerce to a business networking mixer and presentation entitled “How to Safeguard Your Business in 2023”. Sponsored by PNC Bank, the presentation will cover a variety of topics top of mind of business owners and professionals in the current business climate, including:

  • Assessing the safety and security of banks and financial institutions,
  • Diversifying investments in inflationary times
  • Protecting your business against fraud

Our moderated panel will feature Megan Schoettmer, Regional President, PNC Bank, Christian Dean, OAACC Board of Directors and Business Center Manager, PNC Bank, Charles Kwan, Investment Advisor, PNC Investments, and Dhaval Shah, Business Banking Manager, PNC Bank.

Light refreshments will be served.

The event is complimentary, but please RSVP NOW for planning purposes.

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Benefits Of A Side Hustle During Bad Economic Times

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“Good things happen to those who hustle.”

– Anais Nin

(WASHINGTON, D.C. – March 13, 2023) – The COVID-19 pandemic has adversely affected the global economy. Many people have lost their jobs and businesses have closed down as well. The pandemic has highlighted the importance of having multiple sources of income and that is where side hustles come into play. A side hustle is a job or business that someone does in addition to their regular job. Let’s explore three benefits of having a side hustle during bad economic times.

One significant benefit of having a side hustle during bad economic times is the additional income it provides. Side hustles offer a great way to earn extra money, which can be used to supplement one’s regular income. With side hustles, individuals can generate additional revenue streams, which can help cover bills and expenses. Moreover, side hustles can help individuals save up for future investments and retirement.

Another benefit of having a side hustle during bad economic times is the development of new skills. Starting a side hustle requires individuals to learn new skills or improve existing ones. These skills may include marketing, customer service, or time management, among other types of skills. The development of new skills can help individuals become more valuable in their regular jobs, making them more marketable and competitive in the job market.

A third benefit of having a side hustle during bad economic times is another layer of a sense of security. Side hustles offer individuals a backup plan in case they lose their regular job. In the event of a job loss, a side hustle can provide some income until a new job is found. Having a side hustle can also help individuals feel more in control of their financial situation, reducing the stress and anxiety that comes with financial uncertainty.

Having a side hustle during bad economic times offers several benefits. It provides additional income, helps develop new skills and offers a sense of security. Side hustles have become increasingly popular in recent years and the COVID-19 pandemic has highlighted their importance. It is essential for individuals to explore side hustles that align with their interests and skills to maximize the benefits they offer.

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The Benefits of an Online Education – For Working Professionals

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(MONTGOMERY VILLAGE, MARYLAND – November 18, 2022) – Are you a working professional looking for the convenience and flexibility of an online education? An online education can be a great way to further your knowledge, increase job opportunities and even earn you additional credentials without sacrificing your current commitments. In this article, we will explore various benefits of an online education for working professionals.

FURTHERING YOUR KNOWLEDGE

With the flexibility that comes with an online education, you are able to fit study into your existing schedule and take classes at times that are convenient for you. You also have access to many resources that might not be available in traditional classrooms such as webinars, lectures, and tutorials.

In addition to the convenience of studying from home, developing a fundamental understanding of concepts is often easier since online courses provide an interactive learning environment. You can easily connect with peers and professors to ask questions or get help when needed. Additionally, online courses allow you to practice digital literacy skills such as research, problem-solving, online communication, and critical thinking which are important for success in today’s digital world.

INCREASE JOB OPPORTUNITIES

An online education can open up a variety of job opportunities that may not have been available otherwise. Employers are looking for individuals who possess digital literacy skills and may prefer someone with additional credentials earned through online courses. This is especially true in the tech industry where employers often look for candidates who possess specific skills that can be acquired through practicing in an online program. Furthermore, many employers offer incentives such as tuition reimbursement to employees seeking to further their education or gain additional qualifications.

Additionally, an online education allows you to easily access resources from around the world, increasing your chances of finding a job in a different country or region. With ever-evolving technology and globalization, it’s becoming increasingly important for professionals to be able stay ahead of the curve and online education can help you do just that.

CURRENT COMMITMENTS

An online education is a great way to earn additional credentials without sacrificing your current commitments. With its flexibility and convenience, you are able to fit study into your existing schedule and take classes at times that are convenient for you. Furthermore, there is no need to worry about commuting or finding parking as you would with a regular class. So, if you’re looking for a flexible way to pursue higher education and gain additional credentials without sacrificing your current commitments, then an online education could be the perfect option for you! With ever-evolving technology and globalization, it’s becoming increasingly important for professionals to stay ahead of the curve and an online education can help you do just that.

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In conclusion, an online education can be a great way to further your knowledge and increase job opportunities. With its flexibility and convenience, you are able to fit study into your existing schedule and take classes at times that are convenient for you. Additionally, you have access to many resources from around the world which may not be available in traditional classrooms. Furthermore, employers often offer incentives such as tuition reimbursement to those pursuing higher education or gaining additional qualifications. So if you’re looking for a flexible way to pursue higher education or gain new skills without sacrificing your current commitments, then an online education could be the perfect option for you! Take advantage of this opportunity today and begin learning something new! Good luck!

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