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Thursday, September 10, 2009|
Mutual Fund Tax Reform Returns to the Table, Again
Does mutual fund tax reform stand a chance this time around? U.S. News & World Report's Rob Silverblatt reports on the recent reintroduction of the Generate Retirement Ownership Through Long-Term Holding Act, which would allow fund shareholders to defer paying capital gains on profits from the sale of holdings within the funds until the shareholders themselves cash out their shares.
U.S. News talked to Rep. Paul Ryan (R-Wisconsin), who reintroduced this year along with Sen. Mike Crapo (R-Idaho).
The bill has floated around Congress since 2000, and versions of the bill were reintroduced in both houses in 2005. Noting the obstacles the bill faces, Silverblatt writes: "Its only real hope for passage is to be included as part of a larger tax overhaul, but it has historically failed to make it into such bills. Then there's the issue of costs."
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