Gary Peters FINDING

What Michiganders in Detroit, Flint and Lansing should know: 

John James will put corporate and special interests ahead of Michiganders. James supported the corporate tax law which 
benefits special interests and billionaires at the expense of the middle class. It gave a trillion-dollar tax cut to big pharma 
companies, big oil companies, and the wealthy that will force cuts to Social Security and Medicare. James will be loyal to 
his Wall Street billionaire hedge funders and big oil who have pumped in hundreds of thousands of dollars to support him.  

HEATLH CARE, MEDICARE AND SOCIAL SECURITY MATTER MORE THAN EVER IN 
MICHIGAN, WHICH MILLIONS OF MICHIGANDERS RELY ON  

More Than 702,000 Individuals Were Enrolled In The Healthy Michigan Program. “Nearly 1.8 million 
Michiganders were enrolled in traditional Medicaid as of the end of last week, according to the state. More than 702,000 
individuals were enrolled in Healthy Michigan — the expanded form of Medicaid through the federal Affordable Care 
Act — as of early Monday, Health and Human Services Department spokesman Bob Wheaton said.” [Detroit News, 
5/14/20] 

About 2.1 Million Michiganders Rely On Medicare Benefits. [Kaiser Family Foundation, CY18] 

Over 2.2 Million Michigan Residents Receive Monthly Social Security Benefits. “More than 2.2 million Michigan 
residents are getting monthly Social Security benefits, up 34% from 1.65 million recipients in 2000, according to 
December 2018 data from the Social Security Administration.” [M-Live, 1/13/20] 

JOHN JAMES SUPPORTED THE REPUBLICAN TAX LAW WHICH BENEFITS SPECIAL 
INTERESTS AND BIG COROPORATIONS AT THE EXPENSE OF THE MIDDLE CLASS 

JAMES FULLY SUPPORTED THE REPUBLICAN TAX LAW 

James Said That The New Tax Law Was “A Massive Christmas Present.” ANCHOR: ‘Give me specific policy things 
that you're talking to folks that really resonate in Michigan. JAMES: “Of course, the biggest thing is tax reform and tax 
reform got done. Our president has kept his promises to the American people and he's delivered tax reform and signed 
into law before Christmas and this is a massive Christmas present not just for, for the middle class who will experience 
more choice. For example the 529 plan now applies to K through 12 not just in college, and when you give parents choice, 
you give children a chance in the state of Michigan, repatriating trillions of dollars from overseas and millions of jobs back, 
manufacturing jobs, great jobs here in the state of Michigan and that really affects--and Chuck Schumer and Nancy Pelosi 
and and Debbie Stabenow have been fighting that every step of the way and Michiganders are tired of partisan politics 
and want results not more rhetoric.” [YouTube, John James, Fox News, ‘Fox & Friends’, 12/27/17] (VIDEO) 

James: “I Supported The GOP-Led Tax Reform Because It Means Tax Relief For The Backbone Of The American 
Economy; Working Families And Small Businesses.” [Twitter, @JohnJamesMI, 2/26/18] 

THE GOP TAX LAW GAVE A TRILLION-DOLLAR TAX CUT TO DRUG COMPANIES, BIG OIL 
COMPANIES, AND THE WEALTHY, WHILE ADDING OVER $1.9 TRILLION TO OUR NATION’S 
DEBT THAT WILL FORCE CUTS TO SOCIAL SECURITY AND MEDICARE  

THE GOP TAX LAW GAVE A TRILLION-DOLLAR TAX CUT TO… 

The 2017 GOP Tax Cut Amounted To A $1 Trillion Tax Cut For Corporations. “A massive tax cut for corporations: 
Starting on Jan. 1, 2018, big businesses' tax rate would fall from 35 percent to just 21 percent, the largest one-time rate 
cut in U.S. history for the nation's largest companies. The House and Senate bills originally had the big-business tax rate 
falling to 20 percent, but Republicans were not able to make the math work to keep the rate that low and start it right away 
in the new year, so they compromised by moving the rate to 21 percent. It still amounts to roughly a $1 trillion tax cut for 
businesses over the next decade.” [Washington Post, 12/15/17] 

CNBC: “That’s Largely Due To The $1.5 Trillion GOP Tax Cut President Donald Trump Signed Into Law In 2017.” 
[CNBC, 12/5/19] 

…DRUG COMPANIES… 

HEADLINE: “Drug Firms Lead The Way On Pocketing Tax Cuts.” [Editorial, St. Louis Post-Dispatch, 2/26/18] 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
St. Louis Post-Dispatch Editorial: Large Pharmaceutical Companies “Pocketed” $50 Billion In Tax Savings From 
The Republican Tax Bill Rather Than Investing In Research & Development. “A new survey of U.S. companies from 
analysts at Morgan Stanley estimates that 43 percent of the savings from the Republican tax cut bill will be paid to 
investors in the form of higher dividends and stock buybacks. Leading the way are large pharmaceutical companies, 
which Axios.com reported last week are spending a combined $50 billion on stock-buyback programs. Only 13 percent of 
corporate America’s tax-cut savings will be passed on to employees, the Morgan Stanley analysts reported. Much of that 
will go to executives, whose compensation is often tied to stock prices, and they’ll benefit as well when share buybacks 
cause stock prices to jump. The buybacks at Big Pharma are particularly galling. This is the industry that defends high 
drug prices by citing the high research and development costs of creating new drugs. Did they use that $50 billion in tax 
savings for R&D? No, they pocketed it.” [Editorial, St. Louis Post-Dispatch, 2/26/18] 

•  St. Louis Post-Dispatch Editorial: “The Tax-Bill That Trump Championed Provided An Additional Windfall For 

Big Pharma Beyond Cutting The Corporate Tax Rate From 35 Percent To 21 Percent.” “Instead the tax-bill that 
Trump championed provided an additional windfall for Big Pharma beyond cutting the corporate tax rate from 35 
percent to 21 percent. The bill included a repatriation deal for companies holding cash overseas, including the $200 
billion held by pharmaceutical companies. Instead of paying the old corporate tax rate of 35 percent on profits held 
overseas, companies will get a one-time deal that taxes them only 15.5 percent on repatriated cash.” [Editorial, St. 
Louis Post-Dispatch, 2/26/18] 

HEADLINE: “Health Care Companies’ Huge Tax Windfalls.” [Axios, 10/26/18] 

Axios: “The Republican Tax Law Has Rerouted Billions Of Dollars From The Federal Treasury Into The Bank 
Accounts Of Health Care Companies And Wall Street Investors.” [Axios, 10/26/18] 

HEADLINE: “The Tax Overhaul Is Actually A Big Win For Insurers And Drugmakers.” [Washington Post, 12/20/17]  

Washington Post: Republican Tax Plan “A Pretty Big Boon” For The Health Insurance Industry, Expected To 
Reap “The Biggest Benefits” From Its Corporate Tax Cut. [Washington Post, 12/20/17]  

•  Washington Post: “Here’s An Effect Of The Tax Overhaul That Is Clearer: It Means More Money In The 

Pockets Of Insurers And Probably Drugmakers, Too.” [Washington Post, 12/20/17]  

HEADLINE: “Tax Cuts Will Save Health Care Companies Billions — But Not Patients.” [Axios, 3/5/18]  

Axios: “Health Care Companies Will Add Tens Of Billions Of Dollars To Their Bottom Lines This Year Thanks 
To…The Republican Tax Cut Package. But Only A Fraction Of That Money Will Benefit Patients.” [Axios, 3/5/18]  

•  Axios: “Even Though A Lower Corporate Tax Rate Frees Up More Cash For A Health Care System That More 

Patients Are Finding Increasingly Unaffordable, Patients Should Not Expect The Health Industry's Windfall To 
Lead To Lower Premiums [Or] Reduced Price.” [Axios, 3/5/18]  

Axios: “Most Of” The Estimated $10 Billion Tax Cut Expected By 21 Health Care Companies From The 
Republican Tax Bill Was Going To “Share Buybacks, Dividends, Acquisitions, And Paying Down 
Debt.” [Axios, 3/5/18]  

•  Axios: “A Majority Of UnitedHealth’s Windfall Is Going To Wall Street And Executives…Even Health Care 
Companies That Didn't Forecast Specific Tax Savings Nevertheless Made It Clear Wall Street Will Get Its 
Fill.” [Axios, 3/5/18]  

Axios: “4 Pharma Companies Saved $7 Billion From GOP Tax Law.” [Axios, 4/9/19] 

University of Michigan Health Care Business Professor: Republican Tax Bill “Unlikely To Lead To Significant, 
Long-Lasting Savings For Patients.” [Axios, 3/5/18]   

…OIL COMPANIES… 

HEADLINE: U.S. News And World Report: GOP Tax Bill Rewards Real Estate, Oil While Hurting Hospitals.” [U.S. 
News and World Report, 1/1/18] 

HEADLINE: Inside The Tax Bill's $25 Billion Oil Company Bonanza. [Pacific Standard, 3/27/18] 

 
 
 
 
 
  
  
  
  
  
  
  
  
 
 
 
 
HEADLINE: “Oil Refiners Expected to Win Big Under GOP Tax Plan.” [Bloomberg, 12/4/17]  

HEADLINE: “The GOP Tax Bill Is Huge For The US Oil And Gas Industry.” [Business Insider, 12/7/17] 

HEADLINE: “The Final Trump Tax Bill: A Clear Net Positive For U.S. Oil And Gas.” [Forbes, 12/21/17] 

The 2017 GOP Tax Bill Was “An Incredible End-Of-The-Year Gift To Energy Companies” That Critics Said Would 
Unleash “Further Fossil Fuel Exploration.” “A few days before Christmas, the U.S. House and Senate passed the most 
comprehensive tax reform plan since 1986. Upon signing the bill, President Donald Trump called it “an incredible 
Christmas gift for hard-working Americans.” But Trump’s allies in the GOP Congress gave an incredible end-of-the-year 
gift to energy companies. Defenders believe a windfall of exploration, production and investment will emanate from energy 
companies in 2018, while critics say it will lessen renewable energy at the expense of the environment by unleashing 
further fossil fuel exploration. American businesses in general will reap billions in tax savings from the cut in the corporate 
income tax rates from 35 percent to 21 percent, but with the treatment of capital expenditures lessening business tax 
exposure, this is a particular boom for energy companies.” [OilPrice.com, 12/30/17] 

Pacific Standard: The Oil And Gas Industry Was “Among The Tax Bill's Largest And Most Long-Lasting Financial 
Beneficiaries.” “Pacific Standard's original analysis finds that it is the oil and gas industry, including companies that 
backed the presidency of Trump and whose former executives and current boosters now populate it, that are among the 
tax bill's largest and most long-lasting financial beneficiaries.” [Pacific Standard, 3/27/18] 

ExxonMobil Reported $5.9 Billion In Immediate Tax Savings From The Tax Cuts And Jobs Act. “Energy giant 
ExxonMobil reported $5.9 billion in immediate tax savings as a result of the Tax Cuts and Jobs Act, yielding not only the 
highest oil industry payout, but also ranking it second only to Apple as the nation's single largest corporate beneficiary of 
the GOP tax bill.” [Pacific Standard, 3/27/18] 

As Of March 2018 Chevron And ConocoPhillips Had Received $2.02 billion and $852 million in tax savings From 
The 2017 GOP Tax Bill. “Energy giant ExxonMobil reported $5.9 billion in immediate tax savings as a result of the Tax 
Cuts and Jobs Act, yielding not only the highest oil industry payout, but also ranking it second only to Apple as the 
nation's single largest corporate beneficiary of the GOP tax bill. […] Chevron and ConocoPhillips, the second- and third-
largest U.S. oil companies after ExxonMobil, received $2.02 billion and $852 million in tax savings, respectively.” [Pacific 
Standard, 3/27/18] 

…AND THE WEALTHY… 

The GOP Tax Law Was A Corporate Tax Giveaway That Benefitted The Highest Wage Earners. “In A tax-bill saga 
full of clarifying moments, there was one particularly eloquent expression of Republican priorities. First, Republicans 
refused to fund Florida Sen. Marco Rubio's plan to expand tax benefits for low-income families because he proposed 
paying for it by dropping the corporate tax rate to merely 21 percent rather than 20 percent. Then, in final negotiations on 
the bill, they adopted the 21 percent rate Mr. Rubio had sought, after all - and used the savings not to help needy families 
or to lessen the bill's impact on the national debt but to lower the top income tax rate for the highest wage earners.” 
[Washington Post, Editorial, 12/16/17] 

PolitiFact: 83 Percent Of The Trump Tax Breaks Go To The Wealthiest 1 Percent In The Last Year Of The Tax Law. 
“The Tax March ad says 83 percent of the Trump tax breaks go to the wealthiest 1 percent. The number is about right, but 
only for the last year of the tax law. In the two earlier years estimated by the Tax Policy Center, the share going to the 
highest income group was between 20 and 25 percent. The law does favor the well-to-do, but not by nearly as much as 
the ad says.” [PolitiFact, 7/10/18] 

•  Tax Policy Center Model Found That The Top One Percent Received 82.8 Percent Of The Trump Tax Cuts In 
2027. “A December 2017 analysis by the Tax Policy Center, a joint project of the Urban Institute and the Brookings 
Institution, is the underlying source for the 83 percent. The center modeled the impact of the tax law and looked at 
how different income groups fared in three years: 2018, 2025 and 2027. Only in one year, 2027, did 82.8 percent of 
the tax cuts go to the top 1 percent of tax filers. In 2018, the number was 20.5 percent, and in 2025, it was 25.3 
percent.” [PolitiFact, 7/10/18] 

Fortune: Republican Tax Bill Cut Income Tax Rates “For The Richest Americans.” “The firms could also see 
increased demand for their services, thanks to tax cuts for individuals, especially the wealthy. The legislation reduces 
levies on owners of small businesses, while also cutting income tax rates for the richest Americans to 37 percent from 
39.6 percent.” [Fortune, 12/16/17]  

 
 
 
 
 
 
 
 
 
 
 
  
  
Washington Post: Final Republican Tax Plan Included “A New Tax Cut For The Rich” That Amounted To 
“A Significant Tax Break For The Very Wealthy.” “A new tax cut for the rich: The final plan lowers the top tax rate for 
top earners. Under current law, the highest rate is 39.6 percent for married couples earning over $470,700. The GOP bill 
would drop that to 37 percent and raise the threshold at which that top rate kicks in, to $500,000 for individuals and 
$600,000 for married couples. This amounts to a significant tax break for the very wealthy, a departure from repeated 
claims by Trump and his top officials that the bill would not benefit the rich.” [Washington Post, 12/15/17]  

PolitiFact: Tax Benefits “Flow Disproportionately To Wealthier Taxpayers” Under Republican Tax Plan. “Law does 
benefit wealthier taxpayers more When PolitiFact evaluated the bill just before Trump signed it, we found that every 
income group would pay less in taxes in 2019, but that the benefits would flow disproportionately to wealthier taxpayers. 
And by 2027, every income group below $75,000 would see a tax increase, while only those income ranges above 
$75,000 would still see a cut.” [PolitiFact, 3/5/19] 

PolitiFact: “Households Making $200,000…Get 52 Percent Of The Cuts” Under The Republican Tax Plan. “There’s 
no hard and fast rule to say who is rich, but households making $200,000 a year or more roughly account for the top 10 
percent. In this chart of tax law benefits, they get 52 percent of the cuts. We ran this by Howard Gleckman, senior fellow 
at the Tax Policy Center, a project of the Urban Institute and the Brookings Institution. ‘Using the joint committee numbers, 
it is reasonable to make the split at $200,000, and the numbers show they get about half the tax cut,’ Gleckman said. The 
Tax Policy Center ran its own model of how the tax law would play out. The results were about the same as the joint 
committee’s.” 

HEADLINE: “The GOP’s Corporate Jet Tax Loophole Sparks A Market ‘Frenzy.’” [Axios, 9/16/18] 

HEADLINE: “Trump Tax Law Created Breaks For Wall Street To Buy Private Jets.” [Bloomberg, 2/27/19] 

Bloomberg: Republican Tax Plan “Provided A New Incentive” For Wealthy People To Purchase Private Jets For 
Tax Purposes. “While wealthy people buying airplanes is nothing new, the Republican-led tax overhaul provided a new 
incentive. It’s not clear whether any of these money managers had this in mind when they bought their jets, but a 
provision in the new tax law caps deductions of so-called ‘excess business losses,’ meaning that some investors can face 
sizable tax bills on personal income that they previously would have offset. So some tax experts have found a way around 
the excess business loss cap, which was projected to raise $150 billion over 10 years -- by advising their clients to buy 
private planes. It’s an expensive purchase that can cost as much a $67 million but can arguably be used principally for 
work -- unlike, say, a yacht or a mansion in the Hamptons.” [Bloomberg, 2/27/19] 

•  Bloomberg: Republican Tax Plan Created Mechanism For Investment Fund Managers To “Avoid” Taxes On 

Their Carried Interest And Management Fees By Purchasing A Private Jet And “Recasting On Paper The Way 
They Get Paid.” “At first glance, buying a multi million-dollar private jet would seem only to compound the potential 
problem of the business-loss restriction. That’s because ‘bonus depreciation’ creates sizable business losses that are 
now capped -- potentially making it harder for managers to offset their profits from carried interest. Yet when they buy 
a jet, investment-fund and family-office managers are recasting on paper the way they get paid, according to three 
investment fund professionals. By morphing their carried-interest payouts into management fees that are business 
income to the fund, managers can soak up the sizable business loss that buying an airplane usually creates. 
Managers can thus avoid both what originally would have been a capital gains tax bill on their carried interest, and 
what would have been ordinary taxes on their management fees.” [Bloomberg, 2/27/19] 

•  Bloomberg: “[Michael] Kosnitzky, Who Chairs The Private Client Group At Pillsbury Winthrop Shaw Pittman, 

Said He Has Clients, Whom He Won’t Name, Who Have Bought Planes To Take Advantage Of The Tax 
Maneuver.” “With the new loss cap, Kosnitzky said, ‘You should expect highly sophisticated investment fund and 
family office managers to also find strategies that arbitrage the tax code to benefit themselves.’ Kosnitzky, who chairs 
the private client group at Pillsbury Winthrop Shaw Pittman, said he has clients, whom he won’t name, who have 
bought planes to take advantage of the tax maneuver.” [Bloomberg, 2/27/19] 

The Economist: “Donald Trump’s Tax Reform Allowed Individuals And Companies To Write Off 100% Of The Cost 
Of A New Or Used Private Jet Against Their Federal Taxes. For Some Plutocrats This Has Wiped Out An Entire 
Year’s Tax Bill. For Others, It Has Made Buying A Jet Extraordinarily Cheap.” [Bloomberg, 2/27/19] 

CBS: Republican Tax Bill Sets Up $83 Billion Tax Hike For Many Millions Of Americans In 2027. “The lower rates 
and a host of other benefits would expire after 2025. This effectively sets up an $83 billion tax hike for many millions of 
Americans in 2027.” [CBS News, 12/18/17] 

  
 
 
 
 
 
 
  
 
 
Tax Policy Center: Republican Tax Bill Would Increase Taxes On 53 Percent Of Americans By 2027. “Compared to 
current law, 5 percent of taxpayers would pay more tax in 2018, 9 percent in 2025, and 53 percent in 2027.” [Tax Policy 
Center, 12/18/17] 

JCT Analysis Of Final Tax Bill Showed Every Income Group Below 75K Would See Tax Hike By 2027. “The final tax 
bill that the House and Senate will vote on this week provides by far the largest benefits to high-income people, and many 
middle- and lower-income households would end up worse off, new Joint Committee on Taxation (JCT) estimates 
show.[1] Under the amended bill, in 2025 (when most of its provisions would be in place), high-income households would 
get the largest tax cuts as a share of after-tax income, on average, while households with incomes below $30,000 would 
on average face a tax increase. By 2027, when many of its provisions would have expired, those at the top would still get 
large tax cuts, but every income group below $75,000 would face tax increases, on average.” [CBPP, 12/19/17] 

…WHILE ADDING OVER $1.9 TRILLION TO OUR NATION’S DEBT… 

According To The Congressional Budget Office, The GOP Tax Law Would Increase The Debt By $1.9 Trillion. “The 
GOP's signature tax law is projected to increase the national debt by $1.9 trillion between 2018 and 2028, according to a 
new report by the Congressional Budget Office (CBO). According to the report, the tax law would cost the government 
$2.3 trillion in revenues, but economic growth would offset that figure by about $461 billion.” [The Hill, 4/9/18] 

…WHICH WILL FORCE CUTS TO SOCIAL SECURITY AND MEDICARE 

U.S. News And World Report Headline: “After Tax Overhaul, GOP Sets Sights On Medicare, Social Security.” [U.S. 
News & World Report, 12/7/17]  

U.S. News & World Report: “The Most Likely Targets For Cuts And Restructuring In The Coming Months Are 
Likely To Be Medicare And Social Security Benefits.” [U.S. News & World Report, 12/7/17]  

•  New York Times: “Marco Rubio…[Told] Business Leaders That The Tax Cuts Were Just The First Step; The 

Next Is To Reshape Social Security And Medicare For Future Retirees.” [New York Times, 12/2/17]  

•  Paul Ryan: “We’re Going To Have To Get Back Next Year At Entitlement Reform, Which Is How You Tackle 

The Debt And The Deficit…It’s The Health Care Entitlements That Are The Big Drivers Of Our 
Debt.” [Washington Post, 12/6/17]  

New York Times: With The Federal Deficit Growing And President Trump Talking Another Tax Cut, McConnell 
Signaled He Wanted To Reform Medicare And Social Security To Address Ballooning Federal Deficit. “With the 
federal deficit growing and President Trump suddenly talking about another tax cut, the conversation in Washington has 
turned to the inevitable question of how — or whether — Congress will engage in any type of fiscal discipline. […]’It’s 
disappointing, but it’s not a Republican problem,’ Mr. McConnell told Bloomberg News in an interview. ‘It’s a bipartisan 
problem: unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the 
demographics of America in the future.’ That is code for wanting to tackle entitlement programs like Medicare and Social 
Security, which Republicans say need to be reined in to address the ballooning federal deficit.” [New York Times, 
10/26/18]  

AARP: GOP Tax Bill Will Likely Lead To “Dramatic Cuts” To Medicare And Medicaid And Other Programs Serving 
Older Americans. “We remain deeply concerned by the negative effect the Tax Cuts and Jobs Act will have on the 
nation’s ability to fund critical priorities. The tax legislation will increase the deficit by approximately $1.5 trillion over the 
next ten years, and an unknown amount beyond 2027. The large increase in the deficit will inevitably lead to calls for 
greater spending cuts, which are likely to include dramatic cuts to Medicare, Medicaid, and other important programs 
serving older Americans.” [AARP, Press Release, 12/18/17] 

•  AARP: Senate GOP Tax Plan Would Increase Taxes On More Than 5 Million Seniors. “A new analysis by 

AARP’s Public Policy Institute finds that Americans 65 and older would be hard hit, with 1.2 million of them paying 
higher taxes in 2019, and 5.2 million facing increases by 2027. More than 5 million taxpayers over 65 would get no 
tax break whatever in 2019, and 5.6 million would not see their taxes decrease by 2027.” [AARP, 11/30/17] 

Modern Healthcare: Final GOP Tax Bill Could Force Congress To “Slash Healthcare Spending,” Forcing Big Cuts 
To Medicaid, ACA Subsidies And Other Federal And State Health Care Programs. “Healthcare analysts warn that the 
tax cut bill overall will have big downstream effects on funding for Medicare, Medicaid, Affordable Care Act subsidies, and 
other federal and state healthcare programs. That's because the projected $1 trillion-plus increase in the federal deficit 
resulting from the tax cuts will put pressure on Congress to slash healthcare spending. In addition, the Congressional 

 
 
 
 
 
  
  
  
  
 
 
 
Budget Office estimated that passing the tax bill would trigger an automatic $25 billion cut in Medicare in 2018 to offset 
the reduced revenue, under the pay-as-you-go rule.” [Modern Healthcare, 12/15/17]  

JAMES HAS TAKEN OVER $200,000 FROM BILLIONAIRE HEDGE FUND MANAGERS AND THE 
OIL AND GAS INDUSTRY 

JAMES HAS TAKEN $16,800 FROM THREE BILLIONAIRE HEDGE FUND MANAGERS 

2019: Paul Singer Contributed $8,300 To John James For Senate. [Political Moneyline, accessed 9/9/20] 

•  As Of 9/8/2020, Paul Singer Had A Net Worth Of $3.6 Billion. “#222 Paul Singer REAL TIME NET WORTH 

$3.6B as of 9/8/20” [Forbes, Paul Singer, Accessed 9/8/20] 

•  Paul Singer Founded The Hedge Fund Elliott Management. “Hedge fund magnate Paul Singer is known for 
his high-profile, and often combative, dealmaking. He founded his hedge fund firm, Elliott Management, in 1977 
with $1.3 million. The firm now has some $40 billion in assets under management.” [Forbes, Paul Singer, 
Accessed 9/8/20]  

2019: Stephen Schwarzman Contributed $5,600 To John James For Senate. [Political Moneyline, accessed 9/9/20] 

•  As Of 9/8/20, Stephen Schwarzman Had A Net Worth Of $18.1B.  “#64 Stephen Schwarzman REAL TIME 

NET WORTH 18.1B as of 9/8/20” [Forbes, Accessed 9/8/20] 

•  Stephen Schwarzman Was Founder And CEO Of Private Equity Firm Blackstone Group. “The son of a dry 
goods store owner, Stephen Schwarzman founded private equity firm Blackstone with fellow billionaire Peter 
Peterson in 1985.” [Forbes, Accessed 9/8/20] 

•  Blackstone Group Included Hedge Funds. “Hedge Fund Solutions (BAAM) BAAM invests in alternative 
investment strategies for leading institutional investors and sophisticated individuals, seeking attractive risk-
adjusted returns to meet our clients’ investment goals.” [Blackstone Group, “Hedge Fund Solutions,” Accessed 
9/8/20] 

2020: Stanley F Druckenmiller Of Duquesne Family Office LLC Contributed $5,600 To John James For Senate. 
[Political Moneyline, Schedule A Itemized Receipts, contributed on 6/9/20] 

•  As Of 9/8/20, Stanley Druckenmiller Had A Net Worth Of $4.4 Billion. “#167 Stanley Druckenmiller Real Time 

Net Worth As Of 9/8/20 $4.4B” [Forbes, Accessed 9/8/20] 

•  Stanley Druckenmiller Was A Hedge Fund Manager For 30 Years, Ran The Hedge Fund Duquesne Capital 

Management. “Stanley Druckenmiller made it big as a hedge fund manager for 30 years. He now manages his 
money through a family office. […] He shut down his $12 billion hedge fund Duquesne Capital Management in 
August 2010, returning funds to clients.” [Forbes, Accessed 9/8/20] 

Billionaires Support John James. [John James Revealed, 7/25/20] 

JAMES HAS TAKEN $189,666 DOLLARS FROM THE OIL & GAS INDUSTRY 

As Of September 2020, James Had Received $122,921 From The Oil & Gas Industry During The 2020 Cycle. 
[Cetner for Responsive Politics, Accessed 9/8/20] 

James Received $66,745 From The Oil & Gas Industry During The 2018 Cycle. [Center for Responsive Politics, 
Accessed 9/8/20]