In a letter to the congressional super committee, BOMA International and 17 other national real estate organizations urged the panel to reject calls for a tax hike on partnership carried interest. Tasked with cutting up to $1.5 trillion in the federal budget deficit, the committee has less than five weeks to produce its plan. Operating largely in private, it is unclear whether it will ultimately come up with a plan that must be voted out of committee by November 23 and then receive an up or down vote by both chambers by December 23.
If Congress is unable to agree to these cuts, automatic Medicare and defense cuts will take effect.
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