Tax Bill Adds New Deduction For Blackstone CEO And GOP Donor Schwarzman
The Senate tax bill would keep the carried interest loophole and also allow some hedge fund and private equity managers to claim a new deduction. Backing the bill? GOP senators who benefited from campaign donations from Stephen Schwarzman, who heads the world’s largest private equity fund.
Koch Brothers Receive $400 Million In Subsidies, Want Government Out Of Thanksgiving
The Charles Koch Institute shared a Facebook post bemoaning subsidies to the farmers who bring you Thanksgiving. But Koch Industries has received $400 million in government handouts in the last decade.
Would Trump’s CFPB Pick Mulvaney Back Consumers Or Payday Lenders?
In a 2014 hearing, Mick Mulvaney hoped for the "continued viability and availability" of controversial payday and installment loans. Now Mulvaney might be in charge of policing those same products.
Colorado Governor Hickenlooper’s Chief Of Staff Returning To Lobbying Firm Working For Gov's Office
Current Chief of Staff Doug Friednash came to the Colorado governor's office from lobbying firm Brownstein Hyatt Farber Schreck. The governor's office hired BHFS to work on the state's behalf. On Monday, it was announced Friednash was heading back to his old firm.
Corporations With Offshore Billions Sponsor 'Tax Prom'
Congressional staffers, lobbyists and think tank employees will get together for an annual D.C. tradition imbued with extra significance this year: the Tax Foundation’s gala, brought to you by 61 corporations interested in seeing their tax bills reduced.
Will Trump’s IRS Pick Help Robert Mercer Eliminate His Firm’s $7 Billion Tax Bill?
The conservative mega-donor has stepped down as leader of his $97 billion hedge fund, but he already made big investments in President Donald Trump.
Vance Donations Review Has Ties To Investigators Hired By Harvey Weinstein
Manhattan DA Cyrus Vance Jr. commissioned an “independent” review of his own campaign finances. The group he chose has been bankrolled by Kroll Associates, the firm hired to investigate Harvey Weinstein’s accusers.
Koch Brothers Come To The Aid Of Their Man In Virginia, Ed Gillespie
Ed Gillespie, the Republican nominee for governor, has longstanding ties to the Koch brothers who have directed millions of dollars into efforts to elect him.
The Supreme Court Case That Let Clinton Hijack Party Fundraising
Supreme Court Chief Justice John Roberts said experts who worried state parties could be used to route money around contribution limits were “divorced from reality.” Donna Brazile discovered he was wrong.
Trump Organization Uses Forced Arbitration Agreements To Keep Workers From The Courts
The Senate voted to kill a rule that prevented financial firms from barring consumers from the courts. U.S. companies including the Trump Organization use similar agreements to keep workers from suing them.
Do Lower Taxes Spur Economic Growth? What Happened In No-Tax States
A new study argues that states without income taxes have fared worse over the last decade than states that tax their rich residents.
Franklin Foer On The Political Power Of Amazon, Facebook And Google
Author Franklin Foer talks to IBT about the need to protect democracy from the growing influence of Amazon, Facebook and Google.
NerdWallet CEO On How City Life Changes The Financial Goals Of Millennials
NerdWallet CEO Tim Chen and Chief Product Officer Tapan Bhat talked to IBT about trying to help millennials "know what they don't know" when it comes to personal finance.
NY DA Vance Controversies Prompt Bill Limiting Defense Attorney Contributions To Prosecutors
The controversies around DA Cyrus Vance Jr. highlighted the fact that it's currently legal in New York for defense attorneys to donate to the campaigns of district attorneys prosecuting their clients.
Gov. Cuomo Could Oust DA Vance But They Share A Party — And Donors
The New York Constitution gives the governor the authority to remove a district attorney at any time.
Criminal Defense Firm Bankrolled Manhattan DA Cyrus Vance, Kept Clients Out Of Prison
Clayman & Rosenberg and its partners gave more than $42,000 in campaign cash to Cyrus Vance, Jr. Several of the firm's clients with cases in front of the Manhattan DA's office avoided prison.
Will Las Vegas Shooting Break The ‘Trump Effect’ On Gun Stocks?
Shares of gun manufacturers have been down in 2017. In the hours after the worst mass shooting in U.S. history, that started to change.
How Much Does Wall Street Charge To Manage New Mexico's Retirement Money?
New Mexico taxpayers have forked over millions of dollars to private equity and hedge fund managers in the past five years, but the state refuses to disclose the full amount it has paid.
Senator Udall Demands Tougher SEC Pay-to-Play Enforcement, After IBT/MapLight Report
Following IBT/MapLight’s report, New Mexico’s Democratic U.S. senator and GOP Land Commissioner sound alarm about corruption.
New Mexico Pay-To-Play Concerns Lead Representative To Call For Investigation
Following an IBT/Maplight investigation into political contributions from investment firms to Gov. Martinez, a state lawmaker has asked the New Mexico attorney general to investigate.
Did Gov. Susana Martinez Break SEC Rules In New Mexico Pension Deals?
Despite federal ethics rule, GOP rising star raked in cash from Wall Street firms that received state investment deals
Texas Chemical Plant Sued For Millions, First Responders Charge Gross Negligence
Seven members of local law enforcement and the fire department who responded to explosions at an Arkema chemical plant in the Houston area are suing the company, alleging that it failed to properly inform them of the dangers of toxic fumes they faced.
Texas Chemical Plant Company Has Industry Ally Writing Rules At The EPA
Nancy Beck — “the scariest Trump appointee you’ve never heard of,” as one environmentalist called her — worked for the chemical industry's lobbying group, which counted Arkema as a member. Now she’s at the EPA, overseeing regulations governing toxic chemicals.
Texas Republicans Helped Chemical Plant That Exploded Lobby Against Safety Rules
Arkema, the company that owns a Texas chemical plant that spewed “noxious” smoke Thursday, successfully lobbied to delay the enactment of plant safety rules — regulations that would've gone into effect five months ago.
Trump Administration Ethics Entanglements: 9 Officials Getting Lobbied By Previous Employers
The Trump White House let an Obama-era ethics rule lapse. As a result, at least nine administration officials oversee offices that are the target of lobbying efforts by companies they recently worked for.
Gary Cohn's NEC Has Been Lobbied By Goldman Sachs-Backed Industry Groups
The White House said National Economic Council Director Gary Cohn would recuse himself from matters directly affecting his old employer, Goldman Sachs. But groups Goldman is a member of have been directly lobbying the NEC.
Why Are Drug Prices So High? These Politicians Might Have The Answer
At various levels of government — federal agency leaders, state offices, Congress — individuals have taken steps to protect the pharmaceutical industry at the expense of sick consumers.
DeVos Has Invested Millions Into Company Claiming To Treat ADHD, Autism
While serving as education secretary, DeVos has continued to invest in a company accused of making misleading claims about its ability to treat ADHD and autism.
Erik Prince’s Afghanistan Plan Could Boost His Company — And China
The Blackwater founder is trying to sell the Trump administration on a plan to privatize the U.S. war effort in Afghanistan — an approach that could benefit his current company, a security contractor aligned with the Chinese government.
Bernie Sanders Tells Big Pharma: Stop Making Americans Pay Twice
Drug manufacturers use U.S. tax dollars for research and then charge the world’s highest prices to U.S. consumers. Sanders and King — the two senators who don’t belong to either party — have introduced a mechanism to block them.
