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S 3317 118th Congress Senate Taxation

Ending the Carried Interest Loophole Act

Introduced: November 15, 2023 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 15, 2023
Read twice and referred to the Committee on Finance.
Nov 15, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Ending the Carried Interest Loophole Act

This bill revises the tax treatment of partnership interests received in connection with the performance of services. It eliminates the concept of carried interest, a form of compensation received by certain partners in private equity, real estate, or hedge funds for investment management services. Under current law, such compensation can be deferred from taxation until income is realized by the partnership.

The bill requires partners to recognize deemed compensation received from a partnership annually, taxed at ordinary income tax rates and subject to self-employment taxation. The bill eliminates a partner's ability to defer tax on such compensation.

What's happening now November 15, 2023

Read twice and referred to the Committee on Finance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 1

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

 Cosponsors 10
All 10 Democratic 8 Independent 2
D
Smith, Tina
Minnesota · Nov 29, 2023
 D
Fetterman, John
Pennsylvania · Nov 15, 2023
 D
Hirono, Mazie K.
Hawaii · Nov 15, 2023
 I
King, Angus S., Jr.
Maine · Nov 15, 2023
 D
Markey, Edward J.
Massachusetts · Nov 15, 2023
 D
Reed, Jack
Rhode Island · Nov 15, 2023
 I
Sanders, Bernard
Vermont · Nov 15, 2023
 D
Schatz, Brian
Hawaii · Nov 15, 2023
 D
Warren, Elizabeth
Massachusetts · Nov 15, 2023
 D
Whitehouse, Sheldon
Rhode Island · Nov 15, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3317: Ending the Carried Interest Loophole Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-3317/
MLA
"S. 3317: Ending the Carried Interest Loophole Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-3317/.
Bluebook (legal)
S. 3317, 118th Cong. (2026), https://openamerica.io/bill/118-S-3317/.
Markdown link
[S. 3317: Ending the Carried Interest Loophole Act](https://openamerica.io/bill/118-S-3317/)
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