Rep. Eric Cantor Says Hedge Fund Tax Rate Must Stay Low to Help Small Businesses

WATCH: Cantor Defends Hedge-Fund Billionaires

Under the current system, some billionaire hedge fund managers pay a lower tax rate than average workers, like schoolteachers or firemen. Last time Congress tried to close the loophole, in 2007, Cantor held closed-door meetings with lobbyists to try to block the move. In the end, the proposal got through the House but couldn't pass the Senate.
The prospects of passage are better this time, unless Cantor can whip up enough opposition.