Wisconsin Democratic Senator Tammy Baldwin has been under scrutiny for her partner’s involvement in helping ultra-high-net-worth clients pay fewer taxes. Despite Baldwin’s vocal criticism of tax loopholes used by the wealthy, her partner Maria Brisbane works as a private wealth advisor at Morgan Stanley, specializing in tax minimization strategies for her clients.
Brisbane, who was recognized on Forbes’ list of “America’s Top Women Wealth Advisors,” operates the Brisbane Group alongside private wealth adviser Alex Zachary, focusing on creating custom investment strategies for Ultra High Net Worth individuals, families, and organizations. The firm previously worked with Merrill Lynch’s private wealth management unit catering to ultra-wealthy clients.
In response to criticisms, Baldwin’s campaign defended her record of advocating for fair taxation, pointing to legislation she has introduced or supported to address tax loopholes, including the Carried Interest Fairness Act, Paying a Fair Share Act, and the Billionaires Income Tax Act. The campaign emphasized that attacking Baldwin for her partner’s work is unfounded and inaccurate.
As Baldwin gears up for the upcoming general election on November 5th, where she will face Republican challenger Eric Hovde, her campaign has accused Hovde of avoiding tax disclosures and working to minimize taxes. They also raised concerns about Hovde’s self-financed campaign and investment in a hedge fund based in the Cayman Islands.
The scrutiny surrounding Baldwin and her partner’s financial dealings adds a layer of complexity to her re-election campaign, as voters evaluate her commitment to tax fairness against her partner’s role in assisting wealthy clients with tax minimization strategies. The contrasting narratives raise questions about the consistency of Baldwin’s stance on tax loopholes and the implications of her partner’s work in the private wealth management sector. As the election approaches, voters will have to weigh these factors in deciding who to support in the race for Wisconsin’s Senate seat.