July 30, 2007

EV...:

In Opposing Tax Plan, Schumer Breaks With Party (RAYMOND HERNANDEZ and STEPHEN LABATON, 7/30/07, NY Times)

June was a busy month for Senator Charles E. Schumer. On the phone, at large parties and small gatherings around the nation, he raised more than $1 million from the booming private equity and hedge fund industries for the Democratic Senatorial Campaign Committee, of which he is chairman.

But there is another way Mr. Schumer has been busy with hedge fund and private equity managers, an important part of his constituency in New York. He has been reassuring them that he will resist an effort led by members of his own party to single out the industry with a plan that would more than double the taxes on the enormous profits reaped by its executives.

Mr. Schumer has considerable say on the issue. In addition to being the third-ranking Democrat in the Senate leadership, he is the only Democrat serving on both of the major committees, Banking and Finance, that have jurisdiction in the matter.

He has long been a pro-business Democrat and a fund-raising machine for the party, as well as a vociferous supporter of Wall Street issues in Washington, much the way Michigan lawmakers defend the auto industry and Iowa politicians work on behalf of corn farmers.


One man's pork is another's constituent servicing.

Posted by Orrin Judd at July 30, 2007 9:52 AM
Comments

Oh, say it ain't so. Not another dem/lib hypocrite. Leahy or Schumer, which is the more detestable? That's a hard one.

Posted by: erp at July 30, 2007 12:03 PM
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