U.S. private-equity kingpins are likely to be hit with a second giant tax increase next year, the New York Post reported Thursday.

It looks like the bosses will have to dig deeper because a key ally on Capitol Hill — a lawmaker who has blocked three attempts to raise the income tax paid by buyout firms — was set to favor the so-called Enterprise Value Tax. It would more than double the tax bite when moguls cash out of their private equity firms, several sources told the Post. Get the full story »