{"id":1585135,"date":"2022-08-02T14:34:00","date_gmt":"2022-08-02T18:34:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1585135"},"modified":"2022-08-02T14:34:11","modified_gmt":"2022-08-02T18:34:11","slug":"private-equity-giant-taps-schumers-son-in-law-as-lobbyist","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/private-equity-giant-taps-schumers-son-in-law-as-lobbyist\/","title":{"rendered":"Private Equity Giant Taps Schumer\u2019s Son-in-Law as Lobbyist"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fprivate-equity-giant-taps-schumers-son-in-law-as-lobbyist%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1585135&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div>\n\t\t\t<span class=\"article-category\"><a class=\"\" href=\"https:\/\/freebeacon.com\/democrats\/\">Democrats<\/a><\/span><\/p>\n<p class=\"article-excerpt\">Michael Shapiro joins Blackstone from the Department of Transportation<\/p>\n<figure class=\"post-thumbnail-container relative lg:mr-24 w-full my-4 mb-8\"><figcaption class=\"absolute text-white p-4 w-full text-right text-xs bottom-0 bg-black opacity-75\">\n\t\t\t\tSenate Majority Leader Chuck Schumer \/ Getty Images\t\t\t<\/figcaption><\/figure>\n<p>\t\t\t<span class=\"text-gray text-xs md:text-lg\"><a href=\"https:\/\/freebeacon.com\/author\/chuck-ross\/\" title=\"Posts by Chuck Ross\" class=\"author url fn text-red-700\" rel=\"author\">Chuck Ross<\/a> \u2022 August 2, 2022 2:20 pm<\/span><\/p><\/div>\n<div>\n<p>Senate Majority Leader Chuck Schumer&#8217;s son-in-law has joined private equity giant Blackstone as a &#8220;managing director of government affairs,&#8221; the latest addition to the New York Democrat&#8217;s family lobbying empire.<\/p>\n<p>Michael Shapiro, who recently served as President Joe Biden&#8217;s deputy assistant secretary for economic policy at the Department of Transportation, will focus on infrastructure investments and projects at Blackstone, <a href=\"https:\/\/www.blackstone.com\/people\/michael-shapiro\/\" target=\"_blank\" rel=\"noopener\">according to the firm<\/a>. Shapiro lands the new gig as Schumer is poised to decide the fate of legislation on infrastructure spending and tax loopholes of interest to Blackstone. The move was first reported by Capitol Account, a <a href=\"https:\/\/www.capitolaccountdc.com\/\" target=\"_blank\" rel=\"noopener\">newsletter<\/a> founded by two former <em>Bloomberg<\/em> reporters devoted to covering the intersection of Wall Street and Washington.<\/p>\n<p>Schumer is already under fire for blocking a vote on legislation opposed by companies that employ other members of his family. Progressive groups and Republicans <a href=\"https:\/\/www.huffpost.com\/entry\/chuck-schumer-antitrust-hot-seat_n_62e0a81ee4b081f3a9053500\" target=\"_blank\" rel=\"noopener\">have unsuccessfully pressured<\/a> Schumer to schedule a vote on antitrust legislation that would rein in Big Tech firms. Schumer&#8217;s daughters, Jessica and Alison, are lobbyists for Amazon and Facebook&#8217;s parent company Meta, respectively. Shapiro married Jessica Schumer in 2016, after meeting at the Obama White House. The <em>New York Times<\/em> described their courtship as a &#8220;real West Wing romance.&#8221;<\/p>\n<p>Blackstone said Shapiro, who advised Hillary Clinton&#8217;s failed 2016 presidential campaign, will not lobby his father-in-law on issues related to the firm. But the private equity behemoth, which manages nearly $900 billion in assets, has <a href=\"https:\/\/lda.senate.gov\/filings\/public\/filing\/44ec0791-1adb-47b7-bd57-cba9b940fffc\/print\/\" target=\"_blank\" rel=\"noopener\">lobbied<\/a> the Senate on the Build Back Better Act, the massive infrastructure spending program. Blackstone also lobbied the Senate on carried interest, the loophole by which private equity firms obtain lower tax rates for income. Schumer is leading negotiations on the Inflation Reduction Act, which includes language to close the carried interest loophole.<\/p>\n<p>Schumer has ties to other lobbyists for Blackstone. Steve Elmendorf, a prominent Democratic donor who runs the firm Subject Matter, in the past has defended Schumer over the senator&#8217;s ties to Wall Street. &#8220;In working with him for 25 years, he very aggressively represents the state of New York. Sometimes that means he&#8217;s representing one interest over another,&#8221; Elmendorf <a href=\"https:\/\/rollcall.com\/2015\/03\/30\/supporters-say-schumers-ties-interests-go-beyond-wall-street\/\" target=\"_blank\" rel=\"noopener\">said<\/a> in 2015.<\/p>\n<p>Schumer&#8217;s office did not respond to a request for comment.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Democrats Michael Shapiro joins Blackstone from the Department of Transportation  Senate Majority Leader Chuck Schumer \/ Getty Images  Chuck Ross \u2022 August 2, 2022 2:20<\/p>\n","protected":false},"author":155,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1585135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1585135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/155"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1585135"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1585135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1585135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1585135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1585135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}