To amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires short title; etc This Act may be cited as the Ending Wall Street Tax Giveaway Act, creates special rules for partners providing investment management services to partnerships Part I of subchapter K of chapter 1 is amended by adding at the end the following new section: 710.Special rules for partners, and creates special rules for partners providing investment management services to partnerships. It relies on definition changes, appropriations, grants, and tax deductions. The main policy areas are Finance, Regulated Industries, Environment, and Housing.
Who Benefits and How
Homeowners, tenants, or housing market participants affected by the bill could face lower compliance burdens, Financial services firms and customers affected by the bill could face lower compliance burdens, and Environmental and public health interests affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.
Key Provisions
- Requires short title; etc This Act may be cited as the Ending Wall Street Tax Giveaway Act.
- Creates special rules for partners providing investment management services to partnerships Part I of subchapter K of chapter 1 is amended by adding at the end the following new section: 710.Special rules for partners...
- Creates special rules for partners providing investment management services to partnerships.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires short title; etc This Act may be cited as the Ending Wall Street Tax Giveaway Act, creates special rules for partners providing investment management services to partnerships Part I of subchapter K of chapter 1 is amended by adding at the end the following new section: 710.Special rules for partners, and creates special rules for partners providing investment management services to partnerships.
Key Policy Areas
Finance, Regulated Industries, Environment, Housing
Primary Purpose
The bill requires short title; etc This Act may be cited as the Ending Wall Street Tax Giveaway Act, creates special rules for partners providing investment management services to partnerships Part I of subchapter K of chapter 1 is amended by adding at the end the following new section: 710.Special rules for partners, and creates special rules for partners providing investment management services to partnerships.
Policy Domains
Whole bill
Identified Gains
- Homeowners, tenants, or housing market participants affected by the bill
- Financial services firms and customers affected by the bill
- Environmental and public health interests affected by the bill
- Transportation operators and users affected by the bill
- Regulated entities and members of the public affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
Sponsors
Legislative Progress
IntroducedMr. Pascrell (for himself, Mr. Beyer, and Ms. Porter) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology