Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan.
, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan.
"From their vantage point, it’s a million dollars very well spent," said Dean Baker, a senior economist at the Center for Economic and Policy Research, a liberal-leaning think tank. "It’s pretty rare you see this direct of a return on your investment. So I guess I would congratulate them." "Our team worked to ensure that members of Congress from both sides of the aisle understand how private equity directly employs workers and supports small businesses throughout their communities," Drew Maloney, the organization’s CEO and president, said in a statement.
In some cases, the families of private equity managers joined in. David Belluck, a partner at the firm Riverside Partners, gave a $5,800 max-out contribution to Sinema one day in late June. So did three of his college-age kids, with the family collectively donating $23,200, records show. "Senator Sinema said she would not vote for the bill .. unless we took it out," Senate Majority Leader Chuck Schumer told reporters last week. "We had no choice."
But many in her party disagree. They say the favorable treatment does little to boost the overall economy and argue there’s little compelling evidence to suggest the tax benefits are enjoyed beyond some of the wealthiest investors.Blackstone, a significant source of campaign contributions, owns large tracts of real estate in Sinema’s home state, Arizona.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AP: Sinema took Wall Street money while killing tax on investorsSenator Kyrsten Sinema has reportedly received nearly $1 million over the past year from investors whose taxes would have increased under a plan to raise taxes on wealthy traders, according to the Associated Press. abc15
Read more »
Sinema Took Wall Street Money While Killing Tax on InvestorsDemocratic Sen. Kyrsten Sinema of Arizona has received nearly $1 million in campaign contributions over the past year from private equity professionals, hedge fund managers and venture capitalists whose interests she has staunchly defended in Congress.
Read more »
Sen. Warren wants to expand IRS powers beyond the Inflation Reduction Act to prepare tax returnsSen. Elizabeth Warren and other Democrats have plans to give more power to the IRS to prepare taxes, and the Inflation Reduction Act starts that process
Read more »
Long mental health wait times at Kaiser may violate state law, says Sen. WienerA shortage of mental health care workers stemming from the pandemic has made it even more difficult to provide follow-up appointments within 10 days, representatives from Kaiser said. Read more ⤵️
Read more »