This is an unfounded rumor put out by a large hedge fund who is short. No such legislation is being discussed or contemplated. MLP's are like REIT's in that taxes are passed on to holders. If they change MLP's they will have to change REIT status also--not likely.
The amount of tax revenue is also very small as most of the cash distributions are depreciation.
All the other MLP's are up after hours BPL, MMLP, etc. I would not give you a plug nickel for a after hour quote being accurate today.
Hedge funds have been known to use MLPs in the stable side of their portfolio. When the yen broke yesterday they had a choice with regard for their carry trade... liquidate from the long side (i.e. MLPs, etc.) or try to hold thru the yen carry trade.
I suspect the most logical decision is to hold thru because Germany can't be that stupid and will vote for kicking the can down the road I mean the Greek bailout.
Greece should be forced out of ECB and let the drakma float so they can devalue. Less painful than to drag an entire continent down.
Rumors do abound big time when there are big swings in the market; how do we know what you've written isn't 'bunk' as well? The best way to ensure that you are taken serious is to paste a link to back up your claim about a hedge fund going short and spreading rumors threatening a new MLP tax. Otherwise; your post is nothing more than 'a rumor' unto itself.