Press Releases
Accountable.US Exposes $7 Million in Tax Lobbying From Private Equity and Other Industry Groups
Inside a $7 million campaign to keep the carried interest loophole – a benefit that overwhelmingly serves big business
WASHINGTON, DC – Today, Accountable.US released a new report exposing nearly $7 million in spending by private equity, corporate landlords, and other industry groups lobbying around the “Big Beautiful Betrayal.” Per the analysis, 10 Industry trade groups led a campaign against the carried interest loophole, a tax benefit that overwhelmingly benefits the wealthy and effectively “cuts tax bills in half for private equity” groups. Despite opposition from President Trump and the fact that the loophole costs up to $18 billion in tax revenue annually, the loophole was included in House Republicans’ tax package.
House Republicans going to bat for a private equity giveaway for the wealthiest Americans while slashing billions in spending for healthcare, food assistance, and education is as politically unpopular as it is bad for the economic well-being of the majority of the Americans."
Accountable.US Executive Director Tony Carrk.
Per the analysis, dozens of congressional Republicans signed a letter to House Ways & Means Chair Jason Smith urging him to reject attempts to close the carried interest loophole; those same lawmakers have accepted nearly $2.5 million over the course of their congressional careers from industry groups lobbying on the loophole this year.
