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June 10, 2010

Senate Democrats Scale Back Tax Increase on Wall Street
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In other news from Capitol Hill, Senate Democrats are working to scale
back a Wall Street tax increase already approved by the House. The deal
will affect the tax rate paid on profits by managers of hedge funds,
private-equity funds, venture capital firms and other business. Last
month, the House adopted a tax rate of about 35 percent. The Senate is
proposing lowering the tax rate to between 31 and 33 percent.



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