The U.S. Senate could start voting on tax reform legislation as soon as later this week and included in the package of measures is a provision targeting a subset of hedge funds, a category of investor that Trump has insisted were "getting away with murder." At issue in the battle over taxes is the way carried interest - the profits received by many hedge funds, private equity managers, and venture capitalists - is treated as capital gains with a top basic rate of 23.8% as opposed to the top ordinary income rate of 39.6%.