Civics: Lobbying and legislation

Julia Rock:

The world’s largest private equity firm hired Senate Majority Leader Chuck Schumer’s (D-N.Y.) son-in-law as a lobbyist at the same time Schumer announced a deal that guts Democrats’ long-promised plan to close a tax loophole enriching private equity moguls.

The hire spotlights the network of Schumer’s family and former staff with ties to the major companies with legislative business now before the upper chamber run by Schumer.

Indeed, Schumer’s relatives and former staffers are now lobbying for the Blackstone Group, Amazon, Intel, and Google, among other corporate giants — all of which have been lobbying on pending Senate legislation.

This session of Congress has, so far, been favorable to these companies. An antitrust bill designed to crack down on major tech companies still has not received its promised vote on the Senate floor — thanks to Schumer — and Intel stands to be the primary beneficiary of a subsidy package aimed at semiconductor companies that passed Congress in July.