US Senator Elizabeth Warren has demanded that some of the country’s biggest private investment groups give up information about their lobbying efforts to secure tax breaks in Donald Trump’s spending bill, as debate intensifies about the landmark legislation’s winners and losers.
The senator from Massachusetts, one of the leaders of the Democrats’ liberal wing, called on Blackstone, KKR, Apollo Global Management, Bain Capital and Thoma Bravo to provide details on any lobbying and political contributions intended to maintain “special-interest tax loopholes”.
“It is deeply troubling that private equity firms are subsidised through the tax code to juice their profits, exacerbating the industry’s disastrous, rippling effects across multiple industries,” she wrote on Tuesday, giving the five firms until July 2 to respond.