Senator Collins Advances Trump Tax Bill After $2M Private Equity Donation

Senator Susan Collins, gearing up for a difficult 2026 midterm race, faces heightened scrutiny over her ties to private equity, particularly regarding her role in advancing President Donald Trump's 'One Big Beautiful Bill' tax legislation. Although Collins ultimately voted against the bill, which cuts over $1 trillion from Medicaid and threatens health insurance for over 10 million people, she cast a crucial vote to advance it to the Senate floor just one day after receiving a $2 million donation from private equity billionaire Steve Schwarzman, chair of Blackstone Group. This legislation notably benefits private equity by extending and making permanent the pass-through business deduction, allowing partnerships to deduct 20% of their pretax income, and includes tax breaks like those for private jet use. Collins has denied any influence from Schwarzman's donations on her vote, noting that Vice President J.D. Vance could have broken a tie without her support. However, her campaign and leadership PAC have received substantial contributions from private equity firms, totaling over $715,000 during the 2020 cycle, plus millions to her super PAC, raising questions about potential conflicts of interest. Critics argue that Collins' pattern of advancing unpopular Republican legislation before opposing it publicly reflects a troubling quid pro quo dynamic with corporate interests.