Progressives won't back down from their efforts to raise taxes and create stricter oversight on private equity firms now that Democrats control Congress — moves that financial experts say could cripple the industry that employs millions of Americans and invests trillions into businesses. Massachusetts Sen. Elizabeth Warren is leading liberals' charge against private equity, which could lead to the loss of up to 24.3 million jobs.
What makes the war on private equity so dangerous at this point is that it is expected to play a crucial role in the economic recovery from the coronavirus pandemic, according to experts.
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Marisa Herman ✉
Marisa Herman, a Newsmax senior reporter, focuses on major and investigative stories. A University of Florida graduate, she has more than a decade of experience as a reporter for newspapers, magazines, and websites.