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Finance, Carried Interest Still Alive on Capitol Hill

WASHINGTON, DC-The International Council of Shopping Centers is eyeing two pieces of legislation--one positive, one negative--that could have a big impact on commercial real estate.

By Erika Morphy | Updated on August 05, 2010

WASHINGTON, DC-The International Council of Shopping Centers is putting its weight behind two legislative initiatives–one with very negative ramifications for the real estate industry, the other providing a positive boost. There are other initiatives pending on the Hill of interest and important to the council, Betsy Laird, senior vice president of government relations for ICSC, tells GlobeSt.com. But these have their immediate attention.

The first is a proposal to change the tax characterization of carried interest. Passed in the House, this proposal was beaten back in the Senate earlier this summer, but there is still a chance it could be revived, Laird says. ”Carried interest was kept at bay, but we are concerned that the Senate will try it again when they come back [from August recess]. So we cannot be complacent.”

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