Political Quotes

“I renew the request and let the leader reserve the right to object again. The modification is to provide that the enterprise value, the good will of a partnership interest which is sold, would be valued at 50 percent cap gains, 50 percent ordinary income. That is the provision those in the industry who cared about carried interest agreed to. That was the intent in the underlying substitute amendment. Unfortunately, when the amendment was drafted, there was a glitch which did not fully provide for what I just described. It is my full intent for the substitute amendment to provide for what I just stated; namely, that the good will value, enterprise value of the sale of a partnership interest, be valued at 50 percent cap gain and 50 percent ordinary income. It is unfortunate that we are unable to make that change. Mr. McCONNELL. Mr. President, I appreciate that explanation. As the chairman of the committee knows, we still need to see the actual amendment, and we will take a look at it. Cloture Motion The PRESIDING OFFICER. Pursuant to rule XXII, the clerk will report the motion to invoke cloture. The assistant bill clerk read as follows: Cloture Motion We, the undersigned Senators, in accordance with the provisions of rule XXII of the Standing Rules of the Senate, hereby move to bring to a close debate on the motion to concur in the House amendment to the Senate amendment to H.R. 4213, the American Workers, State, and Business Relief Act of 2010, with the Baucus amendment No.…”