Legal Alert: Biden’s second (attempted) bite at the private equity apple – Key 2023 Green Book proposals impacting private equity funds and their investors

On March 28, 2022, the Biden Administration released the 2023 Fiscal Year Budget (the Budget) followed by the release of the Treasury’s Green Book, which provides explanations of the Biden Administration’s revenue proposals. Of the numerous tax proposals, several are of critical importance to private equity funds, their sponsors and investors. At the core of the Biden Administration’s proposals is “ensuring that the wealthiest Americans and the biggest corporations begin to pay their fair share.”1 A brief summary of certain key tax proposals impacting the private equity fund universe is included in our full legal alert.

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