AP
A Democratic Senatorial Campaign Committee official confirmed to Business Insider that the event will be taking place at "the home of Tony and Amie James." The official said the proceeds will benefit the DSCC and tickets cost $2,400.
James raised money for President Obama in 2012 while Blackstone Chairman Stephen Schwarzmann fundraised for Republican presidential candidate Mitt Romney. At a fundraiser at James' home in May 2012, Obama, who spent much of the election attacking Romney for his background in private equity, assured attendees he believed America benefits from the "freedom of free enterprise." He also argued Democrats' focus on social programs is actually better for business than the tax cuts pushed by conservatives.
"There is a theory that that, somehow, is going to unleash the kind of growth that we imagine for this country," Obama said of cutting taxes. "My argument is, is that we tried it and it doesn't work. It's not good for the markets. It's not good for business. It's not good for consumers. It's not good for our kids. It's not good for our future."
In addition to Obama, tonight's fundraiser will be attended by New York City Mayor Bill de Blasio and DSCC Chairman Michael Bennett. At a press conference Tuesday, de Blasio joked that he would be the "token non-wealthy person" at the event.