John,

Wall Street money managers don’t pay their fair share of taxes like you and I do. A special break known as the “Carried Interest Loophole” cuts their taxes nearly in half on income earned by overseeing other people’s investments―and they can defer those reduced tax payments until the investments are sold, which can be years.

That means they can pay a lower tax rate on their millions in Wall Street winnings than many middle class workers pay on their wages each year.

Closing this loophole would generate $63 billion in revenue over ten years, which could be invested in everything from affordable healthcare to eldercare to childcare and more.[1]

Write to your senators today and urge them to co-sponsor and pass the Ending the Carried Interest Loophole Act to ensure Wall Street money managers start paying their fair share of taxes.

This bill, introduced by Senators Ron Wyden (D-OR), Sheldon Whitehouse (D-RI), and Angus King (I-ME) would effectively tax money managers on all of their compensation annually at ordinary-income tax rates. Instead of paying a tax rate of 20%, which is the top tax rate on investment income, money managers should be paying the top wage tax rate which is almost double. After all, this is income earned through work, not through their own personal investments.

Senators need to hear from us! Click here to send a message now and tell them to co-sponsor and pass the Ending the Carried Interest Loophole Act to ensure Wall Street money managers are paying their fair share in taxes.

Together, we’re working to unrig our tax system to invest in working families and our future.

Sarah Christopherson
Legislative and Policy Director
Americans for Tax Fairness Action Fund