Obama Statement on Private Equity Firms

Chicago, IL -- U.S. Senator Barack Obama released the following statement today on reports that Washington will fail to address the taxation of private equity firms.

"If there was ever a doubt that Washington lobbyists don't actually represent real Americans, it's the fact that they stopped leaders of both parties from requiring elite investment firms to pay their fair share of taxes, even as middle-class families struggle to pay theirs. When I'm President, the American people won't have to spend record amounts on lobbying to get their voice heard in Washington. I will close tax loopholes for big corporations, provide 90% of working Americans with a tax cut, and pass the strongest lobbying reform in history."

The Washington Post today reported that the United States Senate will not address the taxation of private equity firms after millions of dollars in industry lobbying. [Washington Post article "Buyout Firms to Avoid a Tax Hike"]