July 26, 2014 SIGN IN | REGISTER

Private Equity Group Takes On Tax Reform

The industry group is also fighting a proposal supported by the administration and Congressional Democrats that would subject private equity firms to the corporate income tax. Currently, the firms, which are usually set up as partnerships known as “pass-through” entities, are not.

President Barack Obama included all three proposals in the corporate tax reform proposal he released in February. 

The trade association’s campaign could help shield Romney from Democrats’ attempts to characterize him as profiteer. But Spain said that doesn’t amount to an endorsement.

“This campaign is not about defending a candidate or political party,” he said. “It is aimed solely at clarifying the record on an industry that has been criticized by politicians on both the left and right.”

Indeed, attacks have not come just from Democrats. When Newt Gingrich and Rick Perry called Romney a “vulture capitalist” in January, the group fired off a retort to reporters that landed in more than 100 news articles.

 

Sam Goldfarb contributed to this report.


 


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