The Blackstone Group

Trump adviser proposes eliminating taxes on all teachers

Blackstone CEO Stephen Schwarzman
Blackstone CEO Steve Schwarzman Photo: Gary Gershoff/WireImage/Getty Images

Trump adviser and Blackstone CEO Steve Schwarzman proposes making "teachers the only tax-exempt occupation in the United States," reports Recode.

The big picture: Schwarzman tells Recode many Americans are ill-prepared as the world transitions to a knowledge economy. Two-thirds of the U.S. workforce has a high school education or less. As a tax-exempt profession, he argues, teaching would attract "very high-quality people" and "they would be marked apart as a prestige institution."

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Blackstone Group seeks to salvage Tallgrass Energy investment

In golf, you don't want to be in the "tall grass." So far in 2019, the same rule applies to private equity's energy sector investments.

Driving the news: The Blackstone Group earlier this year invested $3.3 billion for a 44% stake in Tallgrass Energy, a Kansas-based midstream energy infrastructure company. But the stock has tanked since then, with Blackstone now opting to double down by offering to take over the entire company.