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United States · Bill · HR

H.R. 5648 (117th)

Stop Wall Street Looting Act

referredUnited States· United States Congress· EN

Introduced

20 October 2021

Last action

1 November 2022 · Referred

Status

Referred to the Subcommittee on the Constitution, Civil Rights, and Civil Liberties.

Sponsors

Rep. Pocan, Mark [D-WI-2], Rep. Jayapal, Pramila [D-WA-7], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. García, Jesús G. "Chuy" [D-IL-4], Rep. Omar, Ilhan [D-MN-5], Rep. Jones, Mondaire [D-NY-17], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Ocasio-Cortez, Alexandria [D-NY-14], Rep. Pressley, Ayanna [D-MA-7], Rep. Napolitano, Grace F. [D-CA-32], Rep. Lee, Barbara [D-CA-12], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Lieu, Ted [D-CA-36], Rep. DeSaulnier, Mark [D-CA-10], Rep. Blumenauer, Earl [D-OR-3], Rep. Larsen, Rick [D-WA-2], Rep. Levin, Andy [D-MI-9]

Subjects

Taxation

Source updated

10 January 2026

Taxation

Official sourceDownload fileView documentsShare

Summary

Stop Wall Street Looting Act This bill generally revises provisions related to the regulation of private equity funds. Among other things, the bill increases financial and legal liability for these funds in the event of certain violations of law, gives employee compensation higher priority in bankruptcies, and generally prohibits the payment of dividends for two years from an acquired asset firm to a private equity fund. The bill modifies the tax treatment of carried interest—compensation that is typically received by a partner of a private equity fund and is based on a share of the fund's profits. (Under current law, carried interest is taxed as investment income rather than at ordinary income tax rates.) Among other things, the bill treats as ordinary income the net capital gain with respect to a private equity fund.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 20 October 2021

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, the Judiciary, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  2. 20 October 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 20 October 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 1 November 2022

    Referred

    Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 20 October 2021

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 20 October 2021

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 20 October 2021

    Open at official source

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Sponsors

Related records

Sources

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