Sep 18, 2019

Trump adviser proposes eliminating taxes on all teachers

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."

Go deeper: CEOs are America's new politicians

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Blackstone CEO Steve Schwarzman denies Trump claim about Bidens

Blackstone CEO Steve Schwarzman (L) and President Trump (R). Photo: Chip Somodevilla/Getty Images

Trump adviser and Blackstone CEO Steve Schwarzman is disputing President Trump's claim, made during a private fundraiser, that they spoke about the Biden family, reports Bloomberg.

Why it matters: Trump's claims "could attract interest in light of the impeachment inquiry underway by House Democrats" — especially since it focuses on a conversation between Trump and Ukraine about investigating the Biden family, writes the Washington Post. Schwarzman has remained quiet about his conversations with Trump over the years.

Go deeperArrowSep 28, 2019

Senate Democrats refer NRA for IRS investigation into Russia ties

Photo: Chip Somodevilla/Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) and Finance Committee chair Ron Wyden (D-Ore.) on Wednesday formally requested that the IRS investigate the National Rifle Association for potential violations of tax law related to its interactions with Russian nationals.

The big picture: A report by Democrats on the Senate Finance Committee alleged that the NRA acted as a Russian asset in 2016 by offering a promise of access to elected U.S. officials in exchange for business deals. The revelations raise questions about whether the NRA could lose its tax-exempt status, as tax exempt organizations are not allowed to use funding to personally benefit their officials or for actions significantly outside their stated mission.

Go deeper: The findings from Senate Democrats' report on the NRA

Blackstone Group to pay $5.9 billion for Colony Capital warehouses

The Blackstone Group agreed to pay $5.9 billion for a portfolio of U.S. industrial warehouses from Colony Capital.

Why it matters: Blackstone has become a major force in global e-commerce logistics, having acquired over one billion square feet. Last week it closed on its $18.7 billion purchase of U.S. industrial warehouses from Singapore's GLP, and also consolidated its European last-mile logistics real estate assets under a new umbrella called Mileway.

Go deeperArrowSep 30, 2019