Percy Endorses Chris Dodd for Democratic Nomination for President
Just because I've endorsed Mitt Romney for president doesn't mean I can't also endorse a Democrat for his party's nomination, kind of like the way I root for the Cleveland Indians to win the American League pennant but the Atlanta Braves to win the National League pennant and the World Series. Dodd is the sole Democrat candidate to speak out against proposals to impose discriminatory taxes on alternative asset managers.
July 31 (Bloomberg) — Senate Banking Committee Chairman Christopher Dodd said he has reservations about the potential impact of legislation that would change the tax treatment for publicly traded private-equity firms and hedge funds.
"I am concerned about the potential adverse effects that these proposals would have on capital formation, on job creation and on institutional investors like pension funds and college endowments," Dodd, a Connecticut Democrat who is running for president, said today before a banking panel hearing.
The senator's statements on the legislation put him at odds with other Democrats seeking the party's presidential nomination. Senators Hillary Clinton of New York and Barack Obama of Illinois have issued statements supporting higher taxes on the industry, as has Democratic candidate John Edwards.
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