With the start of a new year and the presidential campaign finally in the rearview mirror, the government is getting back to business. So what's on the agenda? Well, of course no one knows for sure, but there's a pretty good indication that the private equity industry’s tax advantages could disappear. The presidential election brought unprecedented attention to the industry and the enormous personal wealth it can generate, thanks to Bain Capital co-founder Mitt Romney's failed bid for the White House. Now the government needs to raise money, and policy makers may view private equity as a cash cow. On a macro-economic level, the U.S. is deleveraging and there's massive debt hanging over the nation's head. In fact, government spending is projected to outpace revenues by more than 25 percent over the next decade, unless something changes, according to the Congressional Budget Office, a nonpartisan agency that analyzes costs. The federal government is looking for ways to close that gap. Could private equity be the answer? Here's a look at some of the policies and tax issues likely to affect the private equity industry during 2013.

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