Deals
Private Equity Donors Favor Biden Over Trump on Bet to End Chaos
- Industries given millions more to back the ex vice president
- Trump’s style, trade policies are unpopular with finance pros
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Joe Biden, who says he wants to tax capital gains at the same rate as ordinary income and pushes left-of-center economic policies, seems an unlikely favorite of private equity firms and hedge fund managers.
But supporters linked to those industries have poured more than $21 million into his campaign and outside groups backing him, according to the Center for Responsive Politics, a rate much higher than the support they gave Hillary Clinton in 2016. By contrast, they’ve given President Donald Trump and his allied super-PACs just $3.6 million.