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Press Advisory: FRIDAY DC Activists Take on Trump and the Carlyle Group to Close the Carried Interest Loophole

Submitted by on March 22, 2018 – 1:42 pm
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Media Advisory:

Thursday, March 22, 2018

 

FRIDAY: DC Activists Take on Trump and the Carlyle Group to Close the Carried Interest Loophole

DC Councilmember to Join Local Advocates Mobilizing Against Tax Breaks for Billionaires

Washington, DC – This Friday at noon, a lawmaker and activists from around the District of Columbia will gather in front of The Carlyle Group to protest the private equity firm’s extensive lobbying campaign to preserve the egregious carried interest loophole, and to support a bill, recently introduced by DC Councilmember David Grosso, which would close that loophole in the District.

The District of Columbia would raise an estimated $152 million per year by closing the carried interest loophole, which allows billionaire fund managers to cut their tax bill nearly in half and pay a lower rate than teachers, janitors, and firefighters. A report launched today shines a light on DC, Maryland, and Virginia private equity and hedge fund managers who use the loophole, among them Ben Carson, Jr., Alan Greenspan, and David Rubenstein of The Carlyle Group.

At this rally, speakers will discuss how that $152 million could be better spent to help the people of the District through affordable housing, better schools, or fixing the metro, rather than on a handout to a few wealthy fund managers. They will challenge billionaire Carlyle co-founder David Rubenstein and his colleagues for their efforts to use their enormous wealth, in the form of political contributions and high-priced lobbyists, to preserve this loophole in last year’s GOP tax bill.

WHAT:

Rally to close the Carried Interest Loophole in DC

WHO:

At-Large Councilmember David Grosso
Elizabeth Falcon, DC Jobs with Justice (MC)
Angie Whitehurst, DC Resident and Activist
Erica Payne, Patriotic Millionaires
Sequnely Gray, DC Jobs with Justice

WHEN:

Friday, March 23rd, at 12:00pm ET

WHERE:

Outside The Carlyle Group offices at 1001 Pennsylvania Ave NW, Washington, DC 20004

This rally is cosponsored by DC Jobs with Justice, DC Working Families, Jews United for Justice, The Hedge Clippers, American Federation of Teachers, Take On Wall Street, Patriotic Millionaires, Communication Workers of America, and Americans for Tax Fairness.

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