<Dt> Recent regulatory attempts </Dt> <P> To address this concern, U.S. Representative Sander M. Levin introduced H.R. 2834 on June 22, 2007, which would have eliminated the ability of investment - advisers to receive capital - gains tax treatment on their income . On June 27, 2007, Henry Paulson said that altering the tax treatment of a single industry raises tax policy concerns, and that changing the way partnerships in general are taxed is something that should only be done after careful consideration, although he was not speaking only about carried interest . In July 2007 the U.S. Treasury Department addressed carried interest in testimony before the U.S. Senate Finance Committee . U.S. Representative Charles B. Rangel included a revised version of H.R. 2834 as part of the "Mother of All Tax Reform" and the 2007 House extenders package . </P> <P> In 2009, the Obama Administration included a line item on taxing carried interest at ordinary income rates in the 2009 Budget Blueprint . On April 2, 2009, Congressman Levin introduced a revised version of the carried interest legislation as H.R. 1935 . Proposals were made by the Obama Administration for the 2010, 2011, and 2012 budgets . </P> <P> Favorable taxation for carried interest became an issue during the 2012 Republican primary race for president, because 31% of presidential candidate Mitt Romney's 2010 and 2011 income was carried interest . On May 28, 2010, the House approved carried interest legislation as part of amendments to the Senate - passed version of H.R. 4213 . On February 14, 2012, Congressman Levin introduced H.R. 4016 . </P>

What is the tax rate on carried interest