In fighting private-equity tax, Schumer will "spread pain"

07/25/2007 | Bloomberg

Sen. Charles Schumer, D-N.Y., said he would only agree to a plan to more than double taxes on hedge funds and private-equity firms if the bill were extended to cover other interests, including oil-and-gas, venture-capital and real estate partnerships. The "poison pill" endorsement is seen as Schumer's trying to shield his Wall Street constituents and protect Democratic campaign contributions from buyout firms and hedge fund managers.

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