House Extenders Bill Includes Carried Interest, Tax Evasion Offsets

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The House tomorrow will consider an approximately $31 billion bill (H.R. 4213) to extend a series of expiring tax provisions and pay for it by cracking down on tax havens and taxing carried interest as ordinary income. The bill includes more than $5 billion in individual tax relief, more than $17 billion in business tax relief, $1.2 billion to encourage charitable giving, $3.4 billion for expiring community assistance programs, $2.4 billion to extend certain disaster tax relief provisions, and just over $1 billion to extend certain expiring energy tax provisions.