GOP Sen. Susan Collins Has a Close Friend in Billionaire Steve Schwarzman
Billionaire Wall Street tycoon and Donald Trump pal Steve Schwarzman donated $2 million to keep Susan Collins in the Senate — after Schwarzman's private equity firm reaped the benefits of Trump's 2017 tax law.
While Senator Susan Collins was initially undecided on the 2017 tax law, she ultimately voted for the legislation and helped secure its passage.
A billionaire Wall Street executive and Donald Trump adviser has become the biggest donor to the super PAC backing Maine Republican Sen. Susan Collins.
Blackstone Group CEO Steve Schwarzman gave another $500,000 earlier this month to help Collins in a race that could have major financial implications for his firm. In all, Schwarzman has funneled $2 million to the 1820 PAC, a single-candidate super PAC backing her campaign.
Schwarzman has a personal stake in the outcome of Senate elections: as the Daily Poster first revealed, his private equity firm reported a negative effective tax rate last year despite generating billions in profits. Blackstone’s conversion was prompted by Republicans’ 2017 tax law, which slashed the federal corporate income tax rate from 35 percent to 21 percent.
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