Recently I mentioned on this blog that the Carried Interest legislation is resurfacing again courtesy of Obama's efforts and the American Jobs Act of 2011. In my post I reasoned that, well, this time the effort may have some legs considering the economic and political climate in the country. Oh, was I wrong! Contrary to my guess, and making my guess look that sillier, the Senate shut down the bill yesterday in a pretty uniform fashion with all Republicans voting against opening a debate. Democrats are disappointed of course, and if you judge by the post vote statements from the President and Senator Harry Reid, they will attempt to push for pieces of the bill, but this time, I will refrain from expressing any opinion on the likelihood of the Carried Interest seeing the light of day.
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