Private-Equity $$ Flow to GOP

Firms shift money as Dems back higher taxes on industry
By Wesley Oliver,  Newser Staff
Posted Jul 17, 2007 3:36 PM CDT
Democratic presidential candidate Sen. Chris Dodd, D-Conn., addresses members of the National Association of Latino Elected and Appointed Officials in Lake Buena Vista, Fla., Saturday, June, 30, 2007....   (Associated Press)
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(Newser) – As Democrats push higher taxes for private-equity firms, the firms are reciprocating by  funneling more money to the other side of the aisle, the Wall Street Journal reports. Figures for 2008 presidential campaign giving show GOP contenders receiving 53% of donations made by private-equity funds. In 2000 and 2004, Democrats received the majority of donations. 

Democrats in Congress and on the campaign trail have supported raising the tax rate for  private-equity firms going public, as well legislation closing loopholes that benefit fund managers. Republicans oppose both moves. Mitt Romney currently leads all others in donations from private-equity companies. (Read more private equity stories.)