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S 3022 117th Congress Senate 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: October 20, 2021 Introduced by: Warren, Elizabeth Democratic · Massachusetts See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Sep 8, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-747.
Oct 20, 2021
Read twice and referred to the Committee on Finance.
Oct 20, 2021
Introduced in Senate
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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 September 8, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-747.

 Related & companion bills 3
  • S 1598 Related bill Carried Interest Fairness Act of 2021
  • HR 1068 Related bill Carried Interest Fairness Act of 2021
  • HR 5648 Identical bill Stop Wall Street Looting Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 2 Independent 1
D
Baldwin, Tammy
Wisconsin · Oct 20, 2021
 D
Merkley, Jeff
Oregon · Oct 20, 2021
 I
Sanders, Bernard
Vermont · Oct 20, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3022: Stop Wall Street Looting Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-3022/
MLA
"S. 3022: Stop Wall Street Looting Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-3022/.
Bluebook (legal)
S. 3022, 117th Cong. (2026), https://openamerica.io/bill/117-S-3022/.
Markdown link
[S. 3022: Stop Wall Street Looting Act](https://openamerica.io/bill/117-S-3022/)
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