Private equity's political problem
Summary
The article says Democratic candidates have criticized private equity firms over their role in housing and health care, making the industry a campaign issue tied to affordability. It reports that a bipartisan law restricting private equity ownership of single-family homes has taken effect and says a Democratic congressional majority could give Sen. Elizabeth Warren more power to pursue further action.Key Facts
- Candidates including Troy Jackson and Chris Pappas have criticized private equity involvement in housing during their campaigns.
- Rep. Marcy Kaptur has criticized private equity ownership of residential care facilities.
- Congress passed a bipartisan law restricting private equity ownership of single-family homes, and the Treasury Department issued related regulations.
- The article reports that President Donald Trump supported the bill but did not sign it.
- A Democratic sweep could put Sen. Elizabeth Warren in charge of the Senate Banking, Housing and Urban Affairs Committee.
- Warren has called for action on private equity in hospitals, mobile home communities, residential care facilities and other industries.
- Warren and Sen. Josh Hawley previously worked together on a health care bill that has stalled.
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