Sen. Kyrsten Sinema (D-Ariz.), a crucial vote in an evenly divided Senate, announced last night that she would support a key piece of Biden’s legislative agenda—with some caveats. Last week, Sen. Joe Manchin (D-W.Va.), a longtime holdout, stunned his colleagues when he announced that he had struck a deal with Senate Majority Leader Chuck Schumer (D-N.Y.) on the “Inflation Reduction Act of 2022,” which “includes roughly $370 billion in energy and climate spending, $300 billion in deficit reduction, three years of subsidies for Affordable Care Act premiums, prescription drug reform and significant tax changes,” per Politico. But the bill was not going to move forward without the support of Sinema, who demanded that Democrats drop a provision that would place new limitations on the carried interest loophole—which many of her donors happen to benefit from—and garner roughly $14 billion in funding.
Kyrsten Sinema Is On Board With Democrats’ Climate And Tax Bill
Abigail Weinberg, Mother Jones
Fri, 08/05/2022 - 10:34am
Topics: sen kyrsten sinema d-ariz sen joe manchin d-w.va senate majority leader chuck schumer d-n.y inflation reduction act affordable care act politico arizona democrats reach deal with sinema on taxes we tony romm tonyromm august obamacare sinema senate biden s sinema democrats climate bill interest stock provision support reportedly reconciliation carried announced energy prescription funding legislation subsidies move drug garner roughly
BING NEWS:
- CT House approves climate change bill. Here’s the update on the electric car mandate too.
Unable to pass mandates for electric cars, the state House of Representatives approved substitute steps Wednesday night in a high-priority bill on climate change that provides incentives for ...
05/1/2024 - 11:00 pm | View Link - Why Democrats are combining a $700 million child tax credit with a $450 million income tax cut
Democrat’s $1.2 billion tax relief plan is a compromise between Polis and progressives. But it will mean smaller TABOR refunds for all.
04/30/2024 - 2:43 pm | View Link - Democrats could go even further than before if they sweep the White House, Senate, and House again
Without Manchin and Sinema, Democrats would be free to pursue a far more progressive agenda if they win in 2025.
04/30/2024 - 4:00 am | View Link - More
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