David Camp’s Tax Reform Plan Sets Sights On Private Equity

David Camp’s plan contemplates a cut in the top corporate income tax rate to 25% from 35%, while targeting big banks. However, private equity executives seem confident that tax changes won’t be imminent. Sweeping tax reform Rep. Dave Camp (R-MI), chairman of the House Ways and Means Committee, Wednesday proposed a sweeping personal and business tax overhaul, including changes to how carried interest is treated. The proposed bill also includes a revival of the so-called enterprise tax, which would treat publicly-traded private equity firms like corporations. However, the actual amount that private equity and venture capital firms would be taxed…