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2020 election

The November election’s delivery of President-elect Biden and a narrowly split Congress is comforting news for many in private equity who prefer divided government to a blue wave.
Should the Democrats sweep the White House and Congress, Blackstone's president and COO says infrastructure spending and funding for cities could offset other headwinds.
Under a “blue wave” scenario, progressive politicians like Sen. Elizabeth Warren would have more power to target aspects of the financial system they have consistently criticized, including private equity.
PE firms negotiating GP stakes deals are concerned about bump-ups in top individual income and capital gains tax rates, sources told Buyouts.
Keeping the Republican Party in charge of the Senate is seen as critical for the PE industry in light of a recent push from progressives to go after the industry.
The industry has long struggled to hold off efforts, mostly by Democrats but supported even by President Donald Trump, to tax carried interest at the higher ordinary income rate, rather than as capital gains.

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