Finance
Private Equity Wields More Power Than Ever as Warren Picks Fight
- Industry wielding $4 trillion in assets has powerful lobby
- It’s what Democrat candidates face while advocating reforms
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It was “Barbarians at the Gate,” Washington-style.
As Republicans set out to overhaul the federal tax code in 2017, the private equity world leveraged its influence. The mission: protect the wildly lucrative tax break that’s helped mint more billionaires than almost any other industry.