WASHINGTON, DC-There are whispers and faint signs that a legislative proposal to change the tax characterization of carried interest may not come to pass–the latest being feedback that International Council of Shopping Centers president Michael P. Kercheval has received about a grassroots campaign the association launched, coordinated with BOMA International.

That effort entailed beseeching member companies of both groups to contact their Congresspeople to warn them of the adverse affects such a change will have on the commercial real estate industry. “The word our members and lobbyists are getting is to ‘call off the dogs,’ ” Kercheval tells Globest.com. “ To me that is a very good sign.” He adds that the campaign was done is a positive spirit. “I think there are many people on the Hill that don’t realize the severe unintended consequences if this were to pass. What we are doing is trying to educate them.”

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