Inclusive Prosperity Act of 2013

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation, regulatory measures, and Congressional studies on tax reform issues affecting hedge funds and other alternative investments, including: enterprise value, carried interest, and pass-through entities.Regulation of passive investment in U.S. securities and other assets by non-U.S. investors. Tax reform in non-U.S. jurisdictions. Pending legislation on international tax reform. Pending Tax Reform Legislation: Tax Reform Act of 2013, Titles II, IV Tax Reform Act of 2014 Management and Control Unrelated Business Income Tax (UBIT) H.R.1579 -- Inclusive Prosperity Act of 2013 - to impose a tax on certain trading transactions to strengthen our financial security, reduce market volatility, expand opportunity, and stop shrinking the middle class. Legislative oversight of implementation of rules under 871(m) of the Tax Code.

Client expense: $880,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Discussion drafts, to amend the Internal Revenue Code of 1986 (cost-recovery, energy tax credits, taxation of derivatives, deduction for interest paid on corporate debt, corporate tax rate); H.R. 259, the Energy Freedom and Economic Prosperity Act (tax incentives for electric vehicles and fueling infrastructure); H.R. 407, the Clean Vehicles Incentive Act of 2013 (tax incentives for electric vehicles); H.R. 933, Fiscal year 2013 six-month stopgap spending bill; H.R. 1129, the Mobile Workforce State Income Tax Simplification Act of 2013; H.R. 1486, the No Carbon Tax Act of 2013; H.R. 1569, the New Fair Deal Busting Americas Rigid Outdated & Needless Subsidies Act of 2013 (tax incentives for electric vehicles and fueling infrastructure); H.R. 1579, Inclusive Prosperity Act of 2013 H.R. 2202, LNG Excise Tax Equalization Act of 2013 H.R. 2502, Renewable Energy Parity Act H.R. 3474, the Hire More Heroes Act of 2014 (energy tax extenders); H.R. 3985, Expand Act (repeal of renewables tax incentives) H.R. 4438, the American Research and Competitiveness Act of 2014; H.R. 4718, to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation; H.R. 4754, the Managed Carbon Price Act of 2014; H.R. 5021, the "Highway and Transportation Funding Act of 2014" (pension provisions, energy tax credits); H.R. 5771, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions and make technical corrections, to amend the Internal Revenue Code of 1986 to provide for the tax treatment of ABLE accounts established under State programs for the care of family members with disabilities, and for other purposes (energy tax extenders); H. Con. Res. 24, expressing the sense of Congress that a carbon tax would be detrimental to the United States economy; S. 795, the Master Limited Partnerships Parity Act; S. 1103, the LNG Excise Tax Equalization Act of 2013 S. 1225, the Solar Uniting Neighborhoods (SUN) Act of 2013; S. 2003, the Renewable Energy Parity Act of 2014; S. 2148, the Emergency Unemployment Compensation Extension Act of 2014 (pension smoothing); S. 2260, the "Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act" (energy tax extenders); S. 2279, the Energy Freedom and Economic Prosperity Act of 2014; S. 2287, the Carbon Capture and Sequestration Deployment Act regarding CCS technology incentives; S. 2288, the Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 regarding expansion of existing tax credits to encourage CCUS; Discussion draft amending the Internal Revenue Code of 1986 to extend the energy credit for certain property under construction; Advocacy related to comprehensive tax reform.

Client expense: $410,000 · Firm income: Not reported

Government targets: Bureau of Land Management (BLM), Energy, Dept of, Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), SENATE

Section 13 (C) of the Federal Labor Provisions S. 487 Fair Labor Standards, ACT Changes HR 1579, Inclusive Prosperity Act S. 2486 Restoring Overtime Pay for Working Families

Client expense: $50,000 · Firm income: Not reported

Government targets: Federal Transit Administration (FTA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

Capital gains and dividend tax rates as they relate to mutual funds Issues related to extending permanently the registered investment company flow-through provisions of Code section 871(k) Issues related to tax incentives for retirement savings Domestic security or financial transaction tax proposals, including H.R. 880 and S. 410 (Wall Street Trading and Speculators Tax Act) and H.R. 1579 (Inclusive Prosperity Act of 2013) Proposals to protect securities transactions in the U.S. from enforcement of certain excise taxes imposed by any foreign government (imposition of foreign financial transaction tax in the U.S.), including S. 1257 and H.R. 2546 (Protect American Investments Act of 2013) Issues related to limitations on exclusion of municipal bond interest Issues related to fundamental tax reform Issues related to savings Issues related to taxation of derivatives Issues related to basis reporting for stock, bond and money market funds Issues related to commodity related investments Issues related to 529 college savings plans; encourage retention of their tax incentives Issues related to the design and function of the ABLE Act (S.313 and H.R.647) Issues related to development of the 401(Kids) Education Savings Account Act proposal General tax issues related to mutual funds

Client expense: $770,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Bill to ban fracking fed lands LNG Exports Fracking HR 1579 Inclusive Prosperity Act Fracking on Public Lands

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1 (Tax Reform Legislation); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013);H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); H.R. 4429 (Permanent Active Financing Exception Act of 2014); H.R. 4464 (Permanent CFC Look-Through Act of 2014); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); S. 2260 (EXPIRE Act of 2014); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments; Highway Trust Fund legislation; Preserving America's Transit and Highways ("PATH") Act.

Client expense: $2,010,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 1 (Tax Reform Legislation); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013);H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1217 (Housing Finance Reform and Taxpayer Protection Act of 2013); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments.

Client expense: $1,770,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation, regulatory measures, and Congressional studies on tax reform issues affecting hedge funds and other alternative investments, including: enterprise value, carried interest, and pass-through entities.Regulation of passive investment in U.S. securities and other assets by non-U.S. investors. Tax reform in non-U.S. jurisdictions. Pending legislation on international tax reform. Pending Tax Reform Legislation: Tax Reform Act of 2013, Titles II, IV Tax Reform Act of 2014 Management and Control Unrelated Business Income Tax (UBIT) H.R.1579 -- Inclusive Prosperity Act of 2013 - to impose a tax on certain trading transactions to strengthen our financial security, reduce market volatility, expand opportunity, and stop shrinking the middle class. Legislative oversight of implementation of rules under 871(m) of the Tax Code.

Client expense: $910,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 1 (Tax Reform Legislation); H.R. 647 (ABLE Act of 2013); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013);H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013); H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); H.R. 4429 (Permanent Active Financing Exception Act of 2014); H.R. 4464 (Permanent CFC Look-Through Act of 2014); S. 313 (ABLE Act of 2013); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); S. 2260 (EXPIRE Act of 2014); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments; Highway Trust Fund legislation; Preserving America's Transit and Highways ("PATH") Act.

Client expense: $1,790,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

Capital gains and dividend tax rates as they relate to mutual funds Issues related to extending permanently the registered investment company flow-through provisions of Code section 871(k) Issues related to tax incentives for retirement savings Domestic security or financial transaction tax proposals, including H.R. 880 and S. 410 (Wall Street Trading and Speculators Tax Act) and H.R. 1579 (Inclusive Prosperity Act of 2013) Proposals to protect securities transactions in the U.S. from enforcement of certain excise taxes imposed by any foreign government (imposition of foreign financial transaction tax in the U.S.), including S. 1257 and H.R. 2546 (Protect American Investments Act of 2013) Issues related to limitations on exclusion of municipal bond interest Issues related to fundamental tax reform Issues related to savings Issues related to taxation of derivatives Issues related to basis reporting for stock, bond and money market funds Issues related to commodity related investments Issues related to 529 college savings plans; encourage retention of their tax incentives Issues related to the ABLE Act (S.313 and H.R.647) Issues related to development of the 401(Kids) Education Savings Account Act proposal General tax issues related to mutual funds Issues related to Security Transaction tax proposals and H.R. 880, S. 410

Client expense: $460,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Section 13(C) of the Federal Labor Provisions S. 487 Fair Labor Standards, ACT Changes HR 1579, Inclusive Prosperity Act S. 2486 Restoring Overtime Pay for Working Families

Client expense: $50,000 · Firm income: Not reported

Government targets: Federal Transit Administration (FTA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

Discussion drafts, to amend the Internal Revenue Code of 1986 (cost-recovery, energy tax credits, taxation of derivatives, deduction for interest paid on corporate debt, corporate tax rate); H.R. 259, the Energy Freedom and Economic Prosperity Act (tax incentives for electric vehicles and fueling infrastructure); H.R. 407, the Clean Vehicles Incentive Act of 2013 (tax incentives for electric vehicles); H.R. 933, Fiscal year 2013 six-month stopgap spending bill; H.R. 1129, the Mobile Workforce State Income Tax Simplification Act of 2013; H.R. 1486, the No Carbon Tax Act of 2013; H.R. 1569, the New Fair Deal Busting Americas Rigid Outdated & Needless Subsidies Act of 2013 (tax incentives for electric vehicles and fueling infrastructure); H.R. 1579, Inclusive Prosperity Act of 2013 H.R. 2202, LNG Excise Tax Equalization Act of 2013 H.R. 2502, Renewable Energy Parity Act H.R. 3474, the Hire More Heroes Act of 2014 (energy tax extenders); H.R. 3985, Expand Act (repeal of renewables tax incentives) H.R. 4438, the American Research and Competitiveness Act of 2014; H.R. 4718, to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation; H.R. 4754, the Managed Carbon Price Act of 2014; H.R. 5021, the "Highway and Transportation Funding Act of 2014" (pension provisions, energy tax credits); H. Con. Res. 24, expressing the sense of Congress that a carbon tax would be detrimental to the United States economy; S. 795, the Master Limited Partnerships Parity Act; S. 1103, the LNG Excise Tax Equalization Act of 2013 S. 1225, the Solar Uniting Neighborhoods (SUN) Act of 2013; S. 2003, the Renewable Energy Parity Act of 2014; S. 2148, the Emergency Unemployment Compensation Extension Act of 2014 (pension smoothing); S. 2260, the "Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act" (energy tax extenders); S. 2279, the Energy Freedom and Economic Prosperity Act of 2014; S. 2287, the Carbon Capture and Sequestration Deployment Act regarding CCS technology incentives; S. 2288, the Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 regarding expansion of existing tax credits to encourage CCUS; Advocacy related to comprehensive tax reform.

Client expense: $280,000 · Firm income: Not reported

Government targets: Bureau of Land Management (BLM), Energy, Dept of, Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), SENATE

H.R. 1 (Tax Reform Legislation); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013);H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); H.R. 4429 (Permanent Active Financing Exception Act of 2014); H.R. 4464 (Permanent CFC Look-Through Act of 2014); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); S. 2260 (EXPIRE Act of 2014); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments; Highway Trust Fund legislation; Preserving America's Transit and Highways ("PATH") Act.

Client expense: $2,130,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

Discussion drafts, to amend the Internal Revenue Code of 1986 (cost-recovery, energy tax credits, taxation of derivatives, deduction for interest paid on corporate debt, corporate tax rate); H.R. 259, the Energy Freedom and Economic Prosperity Act (tax incentives for electric vehicles and fueling infrastructure); H.R. 407, the Clean Vehicles Incentive Act of 2013 (tax incentives for electric vehicles);H.R. 933, Fiscal year 2013 six-month stopgap spending bill; H.R. 1129, the Mobile Workforce State Income Tax Simplification Act of 2013; H.R. 1486, the No Carbon Tax Act of 2013; H.R. 1569, the New Fair Deal Busting Americas Rigid Outdated & Needless Subsidies Act of 2013 (tax incentives for electric vehicles and fueling infrastructure); H.R. 1579, Inclusive Prosperity Act of 2013 H.R. 2202, LNG Excise Tax Equalization Act of 2013 H.R. 2502, Renewable Energy Parity Act H.R. 3474, the Hire More Heroes Act of 2014 (energy tax extenders); H.R. 3985, Expand Act (repeal of renewables tax incentives) H.R. 4438, the American Research and Competitiveness Act of 2014; H.R. 4718, to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation; H.R. 4754, the Managed Carbon Price Act of 2014; H. Con. Res. 24, expressing the sense of Congress that a carbon tax would be detrimental to the United States economy; S. 795, the Master Limited Partnerships Parity Act; S. 1103, the LNG Excise Tax Equalization Act of 2013 S. 1225, the Solar Uniting Neighborhoods (SUN) Act of 2013; S. 2003, the Renewable Energy Parity Act of 2014; S. 2148, the Emergency Unemployment Compensation Extension Act of 2014 (pension smoothing); S. 2260, the "Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act" (energy tax extenders); S. 2279, the Energy Freedom and Economic Prosperity Act of 2014; S. 2287, the Carbon Capture and Sequestration Deployment Act regarding CCS technology incentives; S. 2288, the Expanding Carbon Capture through Enhanced Oil Recovery Act of 2014 regarding expansion of existing tax credits to encourage CCUS; TBD, the Highway Trust Fund Extension, (pension provisions and energy tax credits).

Client expense: $360,000 · Firm income: Not reported

Government targets: Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, SENATE

H.R. 1 (Tax Reform Legislation); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013);H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); H.R. 4429 (Permanent Active Financing Exception Act of 2014); H.R. 4464 (Permanent CFC Look-Through Act of 2014); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); S. 2260 (EXPIRE Act of 2014); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments; Highway Trust Fund legislation; Preserving America's Transit and Highways ("PATH") Act.

Client expense: $2,080,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation, regulatory measures, and Congressional studies on tax reform issues affecting hedge funds and other alternative investments, including: enterprise value, carried interest, and pass-through entities.Regulation of passive investment in U.S. securities and other assets by non-U.S. investors. Tax reform in non-U.S. jurisdictions. Pending legislation on international tax reform. Pending Tax Reform Legislation: Tax Reform Act of 2013, Titles II, IV Tax Reform Act of 2014 Management and Control Unrelated Business Income Tax (UBIT) H.R.1579 -- Inclusive Prosperity Act of 2013 - to impose a tax on certain trading transactions to strengthen our financial security, reduce market volatility, expand opportunity, and stop shrinking the middle class. Legislative oversight of implementation of rules under 871(m) of the Tax Code.

Client expense: $990,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 1 (Tax Reform Legislation); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013);H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1217 (Housing Finance Reform and Taxpayer Protection Act of 2013); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments.

Client expense: $1,880,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

Balanced approach to deficit reduction that includes a clean increase of the debt ceiling; protects Medicare, Medicaid, and Social Security benefits and other safety net programs; and prioritizes job creation, economic growth, and additional savings from new revenue (incl. 113th H.R. 1579 - Inclusive Prosperity Act) and the Pentagon District of Columbia private school voucher program as funded by the FY2015 Financial Services Appropriations bill (especially 113th Senate draft), opposition to such funding and support for repeal or cuts Faith-based initiatives and other government-related religion proposals generally incl. funding and grant-making practices, proselytization and employment discrimination concerns, and anti-discrimination language

Client expense: $30,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Justice, Dept of (DOJ), Labor, Dept of (DOL), President of the U.S., SENATE, Securities & Exchange Commission (SEC), White House Office

Capital gains and dividend tax rates as they relate to mutual funds Issues related to extending permanently the registered investment company flow-through provisions of Code section 871(k) Issues related to tax incentives for retirement savings (See attached addendum page)Domestic security or financial transaction tax proposals, including H.R. 880 and S. 410 (Wall Street Trading and Speculators Tax Act) and H.R. 1579 (Inclusive Prosperity Act of 2013) Proposals to protect securities transactions in the U.S. from enforcement of certain excise taxes imposed by any foreign government (imposition of foreign financial transaction tax in the U.S.), including S. 1257 and H.R. 2546 (Protect American Investments Act of 2013) Issues related to limitations on exclusion of municipal bond interest Issues related to fundamental tax reform Issues related to savings Issues related to taxation of derivatives Issues related to basis reporting for stock, bond and money market funds Issues related to commodity related investments Issues related to 529 college savings plans; encourage retention of their tax incentives Issues related to the ABLE Act (S.313 and H.R.647) General tax issues related to mutual funds

Client expense: $460,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Section 13 (C) of the Federal Labor Provisions S. 487 Fair Labor Standards, ACT Changes HR 1579, Inclusive Prosperity Act S. 2486, Restoring Overtime Pay for Working Americans

Client expense: $50,000 · Firm income: Not reported

Government targets: Federal Transit Administration (FTA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Transportation, Dept of (DOT)

Discussion drafts, to amend the Internal Revenue Code of 1986 (cost-recovery, energy tax credits, taxation of derivatives, deduction for interest paid on corporate debt, corporate tax rate); H.R. 259, the Energy Freedom and Economic Prosperity Act, (tax incentives for electric vehicles and fueling infrastructure); H.R. 407, the Clean Vehicles Incentive Act of 2013, (tax incentives for electric vehicles);H.R. 933, Fiscal year 2013 six-month stopgap spending bill; H.R. 1486, the No Carbon Tax Act of 2013; H.R. 1569, the New Fair Deal Busting Americas Rigid Outdated & Needless Subsidies Act of 2013, (tax incentives for electric vehicles and fueling infrastructure); H.R. 1579, Inclusive Prosperity Act of 2013 H.R. 2202, LNG Excise Tax Equalization Act of 2013 H.R. 2502, Renewable Energy Parity Act H.R. 3985, Expand Act (repeal of renewables tax incentives) H. Con. Res. 24, expressing the sense of Congress that a carbon tax would be detrimental to the United States economy; S. 795, the Master Limited Partnerships Parity Act; S. 1103, LNG Excise Tax Equalization Act of 2013 S. 1225, the Solar Uniting Neighborhoods (SUN) Act of 2013; S. 2003, the Renewable Energy Parity Act of 2014; S. 2148, the Emergency Unemployment Compensation Extension Act of 2014 (pension smoothing); Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, (energy tax extenders).

Client expense: $320,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1 (Tax Reform Legislation); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013);H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1217 (Housing Finance Reform and Taxpayer Protection Act of 2013); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability of FDIC assessments.

Client expense: $1,880,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation, regulatory measures, and Congressional studies on tax reform issues affecting hedge funds and other alternative investments, including: enterprise value, carried interest, and pass-through entities.Regulation of passive investment in U.S. securities and other assets by non-U.S. investors. Tax reform in non-U.S. jurisdictions. Pending legislation on international tax reform. Pending Tax Reform Legislation: Tax Reform Act of 2013, Titles II, IV Tax Reform Act of 2014 H.R.1579 -- Inclusive Prosperity Act of 2013 - to impose a tax on certain trading transactions to strengthen our financial security, reduce market volatility, expand opportunity, and stop shrinking the middle class. Legislative oversight of implementation of rules under 871(m) of the Tax Code.

Client expense: $900,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Section 13 (C) of the Federal Labor Provisions S. 487 Fair Labor Standards, ACT Changes HR 1579, Inclusive Prosperity Act

Client expense: $50,000 · Firm income: Not reported

Government targets: Federal Transit Administration (FTA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

Section 13 (C) of the Federal Labor Provisions S. 487 Fair Labor Standards, ACT Changes HR 1579, Inclusive Prosperity Act

Client expense: $50,000 · Firm income: Not reported

Government targets: Federal Transit Administration (FTA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

H.R. 880 Wall Street Trading and Speculators Tax Act; entire bill H.R. 1579 The Inclusive Prosperity Act; entire bill H.R. 2546 Protect American Investments Act of 2013; entire billH.R. 2992 Business Activity Tax Simplification Act of 2013; entire bill S. 410 Wall Street Trading and Speculators Tax Act; entire bill S. 1257 - To protect financial transactions in the United States from enforcement of certain excise taxes imposed by any foreign government, and for other purposes; entire bill S. 1645 Mobile Workforce State Income Tax Simplification Act of 2013; entire bill S. 1687 Payroll Fraud Prevention Act of 2013; entire bill S. 1706 Fair Playing Field Act of 2003; entire bill Camp Tax Reform Proposal: Life insurers and insurance product taxation, property casualty insurance proration rule, savings incentives (both qualified and non-qualified), long-term capital gains and qualified dividends, basis adjustment rules, taxation of financial products, compensation and benefit limitations, worker classification, municipal bond interest exclusion, corporate tax rate, corporate business deductions, international corporate taxation, employee benefits, and need for workable transition and compliance rules Worker classification / Independent contractor reform proposal and impact on independent financial advisers working within the securities industry FY 2015 White House budget proposals, including provisions affecting life company and life product taxation, independent contractor, cutback on exclusions for qualified plan contributions and IRAs, employer-provided health benefits, and municipal interest exclusions European FTTs and transborder collection obligation on US broker dealers FATCA: Implementation and global competitive considerations

Client expense: $710,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Capital gains and dividend tax rates as they relate to mutual funds Issues related to extending permanently the registered investment company flow-through provisions of Code section 871(k) Issues related to tax incentives for retirement savings (See attached addendum page)Domestic security or financial transaction tax proposals, including H.R. 880 and S. 410 (Wall Street Trading and Speculators Tax Act) and H.R. 1579 (Inclusive Prosperity Act of 2013) Proposals to protect securities transactions in the U.S. from enforcement of certain excise taxes imposed by any foreign government (imposition of foreign financial transaction tax in the U.S.), including S. 1257 and H.R. 2546 (Protect American Investments Act of 2013) Issues related to tax incentives for retirement savings Issues related to limitations on exclusion of municipal bond interest Issues related to fundamental tax reform Issues related to savings Issues related to taxation of derivatives Issues related to basis reporting for stock, bond, and money market funds Issues related to commodity related investments Issues related to 529 college savings plans; encourage retention of their tax incentives General tax issues related to mutual funds

Client expense: $490,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC)

Section 13 (C) of the Federal Labor Provisions S. 487 Fair Labor Standards, ACT Changes HR 1579, Inclusive Prosperity Act

Client expense: $5,000,000 · Firm income: Not reported

Government targets: Federal Transit Administration (FTA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

Balanced approach to deficit reduction that includes a clean increase of the debt ceiling; protects Medicare, Medicaid, and Social Security benefits and other safety net programs; and prioritizes job creation, economic growth, and additional savings from new revenue (incl. 113th H.R. 1579 Inclusive Prosperity Act) and the PentagonFaith-based initiatives and other government-related religion proposals generally incl. funding and grant-making practices, proselytization and employment discrimination concerns, and anti-discrimination language

Client expense: $30,000 · Firm income: Not reported

Government targets: Bureau of the Census, Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Justice, Dept of (DOJ), SENATE, Securities & Exchange Commission (SEC), White House Office

H.R. 1579, Inclusive Prosperity Act, whole bill.

Client expense: $6,160 · Firm income: Not reported

Government targets: Army, Dept of (Corps of Engineers), Bureau of Land Management (BLM), Consumer Product Safety Commission (CPSC), Environmental Protection Agency (EPA), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Maritime Administration (MARAD), Natl Oceanic & Atmospheric Administration (NOAA), SENATE, State, Dept of (DOS), U.S. Coast Guard (USCG), U.S. Fish & Wildlife Service (USFWS), U.S. Trade Representative (USTR)

HR 1579: Inclusive Prosperity Act

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1579: The Inclusive Prosperity Act

Client expense: $100,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 1579 Inclusive prosperity act

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1579: The Inclusive Prosperity Act

Client expense: $100,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1579: The Inclusive Prosperity Act

Client expense: $10,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Closing unjustified tax loopholes used by the wealthy and corporations, especially through the Stop Tax Haven Abuse Act (113th H.R. 1554 and S. 1533), but also through the Corporate Tax Dodging Prevention Act (113th S. 250) ; also a related call for the Budget Conference Committee to reach an agreement (incl. 113th H.J.Res. 59 Continuing Appropriations Resolution (enacted as Public Law No: 113-67))Balanced approach to deficit reduction that includes a clean increase of the debt ceiling; protects Medicare, Medicaid, and Social Security benefits and other safety net programs; prioritizes job creation, economic growth, and additional savings from new revenue (incl. 113th H.R. 1579 Inclusive Prosperity Act) and the Pentagon; and repeals sequestration; also related calls to end the October 2013 partial government shutdown and for the Budget Conference Committee to reach an agreement (incl. 113th H.J.Res. 59 Continuing Appropriations Resolution (enacted as Public Law No: 113-67)) Faith-based initiatives and other government-related religion proposals generally incl. funding and grant-making practices, proselytization and employment discrimination concerns, and anti-discrimination language FY15 Administration Budget as it relates to the Teen Pregnancy Prevention Initiative (TPPI), the Division of Adolescent and School Health (DASH), the Personal Responsibility Education Program (PREP), and the abstinence-only-until marriage Title V and competitive grant programs

Client expense: $30,000 · Firm income: Not reported

Government targets: Administration for Children & Families (ACF), Centers For Disease Control & Prevention (CDC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Office of Management & Budget (OMB), Office on Violence Against Women, President of the U.S., SENATE, Securities & Exchange Commission (SEC), White House Office

H.R. 1579: The Inclusive Prosperity Act

Client expense: $100,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1579: Inclusive Prosperity Act

Client expense: $60,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1 (Tax Reform Legislation); H.R. 684 (Marketplace Fairness Act); H.R. 789 (Build America Bonds Extension Act of 2013); H.R. 797 (Municipal Advisor Oversight Improvement Act of 2013);H.R. 798 (Workforce Investment Act of 2013); H.R. 880 (Wall Street Trading and Speculators Tax Act); H.R. 949 (Invest in American Jobs Act of 2013); H.R. 1579 (Inclusive Prosperity Act of 2013); H.R. 2788 (Mortgage Forgiveness Tax Relief Act); H.R. 2994 (Mortgage Forgiveness Tax Relief Act of 2013); S. 336 (Marketplace Fairness Act); S. 410 (Wall Street Trading and Speculators Tax Act); S. 743 (Marketplace Fairness Act); S. 1187 (Mortgage Forgiveness Tax Relief Act); S. 1257 (Protect American Investments Act of 2013); S. 1706 (Fair Playing Field Act of 2013); Regulations implementing Internal Revenue Code Section 871(m); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Proposals; Tax issues related to standardization of credit default swaps; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Extension of the Alternative Minimum Tax, tax exemption for private activity bonds; Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax extenders; Municipal Advisor Regulation; Cost-basis reporting regulations; Issues related to standardization of derivatives transactions.

Client expense: $1,270,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, U.S. Trade Representative (USTR)

H.R. 1077, "Consumer Mortgage Choice Act"; H.R. 1579, Inclusive Prosperity Act of 2013; H.R. 2202, LNG Excise Tax Equalization Act of 2013; S. 795, Master Limited Partnerships Parity Act.

Client expense: $350,000 · Firm income: Not reported

Government targets: Energy, Dept of, Environmental Protection Agency (EPA), Federal Energy Regulatory Commission (FERC), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Internal Revenue Service (IRS), Office of Management & Budget (OMB), SENATE, Treasury, Dept of

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation, regulatory measures, and Congressional studies on tax reform issues affecting hedge funds and other alternative investments, including: enterprise value, carried interest, and pass-through entities.Regulation of passive investment in U.S. securities and other assets by non-U.S. investors. Tax reform in non-U.S. jurisdictions. Pending legislation on international tax reform. Tax Reform Act of 2013, Titles II, IV H.R.1579 -- Inclusive Prosperity Act of 2013 - to impose a tax on certain trading transactions to strengthen our financial security, reduce market volatility, expand opportunity, and stop shrinking the middle class.

Client expense: $870,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Bright Lines Project, HR 1579 Inclusive Prosperity Act

Client expense: $50,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

Capital gains and dividend tax rates as they relate to mutual funds Domestic security or financial transaction tax proposals, including H.R. 880 and S. 410 (Wall Street Trading and Speculators Tax Act) and H.R. 1579 (Inclusive Prosperity Act of 2013) (see attached addendum page)General tax issues related to mutual funds Proposals to protect securities transactions in the U.S. from enforcement of certain excise taxes imposed by any foreign government (imposition of foreign financial transaction tax in the U.S.), including S. 1257 and H.R. 2546 (Protect American Investments Act of 2013) Issues related to tax incentives for retirement savings Issues related to limitations on exclusion of municipal bond interest Issues related to fundamental tax reform Issues related to taxation of derivatives Issues related to basis reporting for stock, bond, and money market funds Issues related to commodity related investments Issues related to 529 college savings plans; encourage retention of their tax incentives

Client expense: $800,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC)

H.R. 880 Wall Street Trading and Speculators Tax Act; entire bill H.R. 1579 The Inclusive Prosperity Act; entire bill H.R. 1634 Medical FSA Improvement Act; entire billH.R. 2546 Protect American Investments Act of 2013; entire bill H.R. 2992 Business Activity Tax Simplification Act of 2013; entire bill S. 410 Wall Street Trading and Speculators Tax Act; entire bill S. 1257 - To protect financial transactions in the United States from enforcement of certain excise taxes imposed by any foreign government, and for other purposes; entire bill S. 1687 Payroll Fraud Prevention Act of 2013; entire bill S. 1706 Fair Playing Field Act of 2003; entire bill Tax reform: Life insurers and insurance product taxation, property casualty insurance taxation, savings incentives (both qualified and non-qualified), long-term capital investment, municipal bond interest exclusion, corporate tax rate, corporate business deductions, international corporate taxation, employee benefits, and need for workable transition and compliance rules Not yet introduced: House Ways and Means draft proposal for modifying the tax treatment of financial products and impact on life insurance companies, mutual funds, and retail investors Independent contractor reform proposal and impact on independent financial advisers working within the securities industry FATCA: Implementation and global competitive considerations European FTTs and transborder collection obligation on US broker dealers FY 2014 White House budget proposals, including provisions affecting life company and life product taxation, independent contractor, cutback on exclusions for qualified plan contributions and IRAs, employer-provided health benefits, and municipal interest exclusions

Client expense: $450,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Section 13 (C) of the Federal Labor Provisions S. 487 Fair Labor Standards, ACT Changes HR 1579, Inclusive Prosperity Act

Client expense: $50,000 · Firm income: Not reported

Government targets: Federal Transit Administration (FTA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Transportation, Dept of (DOT)