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S. 1686 (114th): Carried Interest Fairness Act of 2015

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A bill to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities.

The bill’s titles are written by its sponsor.

Sponsor and status

Tammy Baldwin

Sponsor. Senator for Wisconsin. Democrat.

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Last Updated: Jun 25, 2015
Length: 44 pages
Jun 25, 2015
114th Congress (2015–2017)
Died in a previous Congress

This bill was introduced on June 25, 2015, in a previous session of Congress, but it did not receive a vote.

Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).


12 Cosponsors (11 Democrats, 1 Independent)


Position statements

What legislators are saying

U.S. Senator Tammy Baldwin: Pay for Business Tax Cuts by Closing Loopholes that Benefit Hedge Funds and Corporate CEOs
    — Sen. Tammy Baldwin [D-WI] (Sponsor) on Dec 3, 2015

Senate Democrats Call on McConnell, Reid to Close Carried Interest Loophole
    — Sen. Dianne Feinstein [D-CA] (Co-sponsor) on Oct 22, 2015

Reed & Whitehouse Seek to Close Unfair “Carried Interest” Tax Loophole
    — Sen. Sheldon Whitehouse [D-RI] (Co-sponsor) on Oct 23, 2015

More statements at ProPublica Represent...


Jun 25, 2015

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

S. 1686 (114th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number S. 1686. This is the one from the 114th Congress.

This bill was introduced in the 114th Congress, which met from Jan 6, 2015 to Jan 3, 2017. Legislation not passed by the end of a Congress is cleared from the books.

How to cite this information.

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“S. 1686 — 114th Congress: Carried Interest Fairness Act of 2015.” 2015. March 28, 2023 <>

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