(The Hill) — Robert Johnson, founder of Black Entertainment Television, on Tuesday said a tax increase on carried interest that is included in pending legislation extending several measures, will be detrimental to minority-owned businesses. “In my opinion, this legislation would cause a rapid decline in minority private equity firms and possibly eliminate minority participation in this important financial sector of the American economy,” he said in prepared remarks. “Minority firms have difficult challenges in attracting fund investors and an even more difficult time attracting top managerial talent. If this legislation is approved, it will become even more daunting for minority firms.”
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