John,

Did you know that Wall Street hedge-fund managers can pay roughly half the tax rate than those earning traditional wages pay? This is because of something called the “carried interest loophole”―one of the clearest examples of how the wealthiest rig the tax code in their favor.

Now, 14 Senators led by Senator Tammy Baldwin (D-WI) have introduced the Carried Interest Fairness Act, which will require income earned by hedge fund managers to be taxed at the same rate as ordinary wages. If passed, this legislation will raise $6.5 billion in revenue over 10 years, allowing us to invest in services for working families as we unrig the tax code.

Click here to add your name as a grassroots co-sponsor of the Carried Interest Fairness Act to demand Wall Street hedge-fund managers pay their fair share in taxes.

Upon introduction of the bill, Senator Baldwin said:

“By closing the carried interest loophole, we’ll make our tax code fairer for working families, cut the deficit, and ensure that those at the top of the food chain aren’t exploiting the system to further enrich themselves.”

These are the kinds of loopholes we’re talking about closing when we say TAX THE RICH.

Senator Sherrod Brown said:

“This loophole is yet another way wealthy special interests have rigged the system to work for them, at the expense of everyone else. Hedge funds and private equity firms shouldn’t pay less taxes than working people in Ohio.”

Instead of a rigged tax code that helps pay for mega-yachts for Wall Street plutocrats, we need to close loopholes and require the very richest Americans to pay their fair share.

Add your name as a grassroots co-sponsor of the Carried Interest Fairness Act now to demand Congress act!

Together, we’re fighting for a tax code that works for everyday people, not just millionaires and billionaires.

Thank you for taking action today,

David Kass
Executive Director
Americans for Tax Fairness Action Fund