A GOP lawmaker says he's sticking it to hedge funds with a new tax rule — he's not

Republican lawmaker Kevin Brady introduced an amendment that would alter a long-standing tax provision called carried interest — and could raise taxes on Wall Street managers that keep holdings for less than three years.  Brady said the change would prevent hedge-fund managers from taking advantage of the tax benefit, but they aren't the Wall Streeters using it. Currently, carried interest allows investment managers to have capital gains taxed at a lower rate than normal income tax if they...