Business
The Carried Interest Loophole Survives Another Political Battle
“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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Business
Deadline Aug. 5: Center for Black Entrepreneurship Opens Paid Internship Program for AUC Students
(ATLANTA — August 3, 2026) — The Center for Black Entrepreneurship is accepting applications for its 2026–2027 Paid Internship Program, offering students across the Atlanta University Center an opportunity to gain hands-on professional experience while supporting programs designed to empower entrepreneurs.
The internship program is open to eligible students attending Spelman College, Morehouse College, Clark Atlanta University and Morris Brown College.
Available internship opportunities include:
- Marketing and social media
- Photography and videography
- Administrative operations
Selected interns will work alongside Center for Black Entrepreneurship staff and industry partners while gaining real-world experience in entrepreneurship, marketing, event management, operations and program administration. Interns will also have opportunities to strengthen their professional skills, expand their networks and contribute to events and initiatives serving the AUC community.
Who Is Eligible?
Applicants must:
- Be a sophomore, junior or senior
- Be currently enrolled at Spelman College, Morehouse College, Clark Atlanta University or Morris Brown College
- Maintain a minimum cumulative GPA of 2.75
- Attend mandatory team meetings on Mondays at 6:30 p.m. and Thursdays beginning at 5 p.m.
- Be available for occasional evening and weekend events
- Commit approximately 10 to 15 hours per week throughout the academic year
Required Application Materials
Students should be prepared to submit:
- A résumé
- A professional biography of at least 200 words
- An official or unofficial transcript
- One letter of recommendation
- A portfolio or work samples for photography and videography or marketing and social media positions
The deadline to apply is Wednesday, August 5, 2026, at 5 p.m.
With the deadline quickly approaching, interested and eligible students are encouraged to gather their materials and submit their applications as soon as possible.
The Center for Black Entrepreneurship is a collaborative initiative serving the Atlanta University Center and working to strengthen the pipeline of Black entrepreneurs through education, mentorship, professional development and access to entrepreneurial resources.
APPLY
(RICHMOND – February 23, 2026) – Black-owned newspapers are disappearing before our eyes.
Historic institutions that once carried our stories, defended our dignity, and documented our victories are folding across the country. Newsrooms that anchored neighborhoods for generations are going quiet. Seniors who relied on the printed word are now being forced into a digital world that did not wait for them.
This is not just a Black problem. It is not even just an American problem. It is global.
Technology disrupted everything.
We once used pagers. Then cell phones replaced them. House phones became optional. Now news lives in the palm of your hand. A single influencer with a smartphone can reach more people in seconds than a newsroom once could in a week.
The game changed.
Years ago, The Baltimore Sun recruited me to blog for them. Soon after, their reporters were required to shoot video on their phones. The thing is — I had already been doing that. Innovation wasn’t new to us. We were early.
But disruption leaves casualties.
When a Black newspaper closes, something more than a business disappears. Institutional memory vanishes. Accountability weakens. Community narrative shifts into someone else’s hands.
That void is dangerous.
That is why we built BlackUSA.News.
Not as nostalgia.
Not as resistance to change.
But as adaptation with intention.
I have worked in the Black Press since 1994. I have seen what happens when we control our story — and what happens when we don’t.
BlackUSA.News is our answer to this moment.
We are not watching the Black Press die.
We are rebuilding it — digitally, nationally, unapologetically.
And we welcome all who are ready to build with us.
Deadline Aug. 5: Center for Black Entrepreneurship Opens Paid Internship Program for AUC Students
N.C. A&T to Host 100th Greatest Homecoming on Earth Virtual News Conference on Friday
BlackUSA.News Unveils New National Platform Connecting Readers to America’s Leading Black Media
Gospel Legend Calvin Bridges Celebrates 50 Years of ‘I Can Go to God in Prayer,’ a Song That Helped Shape Black Gospel Music
Crawford Family Donates $2 Million to Spelman and Morehouse to Expand Opportunity for HBCU Students
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