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HR 3848 116th Congress House Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Bankruptcy Capital gains tax Civil actions and liability Corporate finance and management Employee benefits and pensions Financial services and investments Fraud offenses and financial crimes Income tax deductions Income tax rates Interest, dividends, interest rates Marketing and advertising Real estate business Securities Securities and Exchange Commission (SEC) Self-employed Tax administration and collection, taxpayers Unemployment

Stop Wall Street Looting Act

Introduced: July 18, 2019 Introduced by: Pocan, Mark Democratic · Wisconsin See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 12, 2019
Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.
Jul 18, 2019
Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Judiciary, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 18, 2019
Introduced in House
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 Plain-English summary Congressional Research Service

Stop Wall Street Looting Act

This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill

  • increases financial and legal liability for these funds in the event of certain violations of law,
  • gives employee compensation higher priority in bankruptcies, and
  • generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund.

The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.

What's happening now August 12, 2019

Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

 Related & companion bills 3
  • S 781 Related bill Carried Interest Fairness Act of 2019
  • HR 1735 Related bill Carried Interest Fairness Act of 2019
  • S 2155 Identical bill Stop Wall Street Looting Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 5
 Cosponsors 17
All 17 Democratic 13
D
Meng, Grace
New York · Mar 4, 2020
 D
Larsen, Rick
Washington · Feb 4, 2020
 D
Adams, Alma S.
North Carolina · Jan 13, 2020
Gabbard, Tulsi
· Dec 11, 2019
Napolitano, Grace
· Aug 20, 2019
 D
Norton, Eleanor Holmes
District of Columbia · Aug 20, 2019
 D
DeSaulnier, Mark
California · Aug 6, 2019
 D
Ocasio-Cortez, Alexandria
New York · Aug 2, 2019
 D
Omar, Ilhan
Minnesota · Jul 24, 2019
 D
García, Jesús G. "Chuy"
Illinois · Jul 18, 2019
 D
Grijalva, Raúl M.
Arizona · Jul 18, 2019
 D
Jayapal, Pramila
Washington · Jul 18, 2019
 D
Khanna, Ro
California · Jul 18, 2019
Lee, Barbara
· Jul 18, 2019
 D
Pressley, Ayanna
Massachusetts · Jul 18, 2019
 D
Schakowsky, Janice D.
Illinois · Jul 18, 2019
 D
Tlaib, Rashida
Michigan · Jul 18, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3848: Stop Wall Street Looting Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-3848/
MLA
"H.R. 3848: Stop Wall Street Looting Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-3848/.
Bluebook (legal)
H.R. 3848, 116th Cong. (2026), https://openamerica.io/bill/116-HR-3848/.
Markdown link
[H.R. 3848: Stop Wall Street Looting Act](https://openamerica.io/bill/116-HR-3848/)
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