Sinema breaks urging CHANGES to $740billion Inflation Reduction Act

Posted 6 days ago

From WWW.DAILYMAIL.CO.UK

Democratic Sen. Kyrsten Sinema is finally airing her concerns Democratic colleague Joe Manchin's plan reached with Senate Majority Leader Charles Schumer to raise  $739 billion in revenue.

The deal, which would include $433 billion in government spending on climate and health programs, would finally give President Biden and Democrats a major policy win, in a week when Biden announced the US took out Osama Bin Laden's Number Two Ayman al-Zawahiri.

Sinema has been silent since Manchin announced the deal this week – and the White House has refused to divulge what contact, if any, Biden has had with the Arizona senator, who has infuriated Democratic colleagues and who is up for reelection in 2024.

Sinema 'wants to nix language narrowing the so-called carried interest loophole, which would change the way some investment income is taxed,' Politico reported.

The asks would represent a stunning $19 billion in changes and reflect Sinema's leverage, but are still dwarfed by the overall size of the package.

Sinema has long raised concerns about the tax provision, a priority for Biden that Manchin said was important to his support for a deal after months of negotiations.

The provision brings in about $14 billion, with funds going to climate change and other initiatives.

Sinema is also seeking about $5 billion in drought resiliency funds, which would benefit her parched state. The report cited sources familiar with her concerns, although her office didn't comment.

Sinema has spent days avoiding reporters' questions about whether she would back the Manchin-Schumer deal, even as the White House got behind it and even progressive Democrats embraced it.

The measure is dramatically scaled back from Biden's original Build Back Better agenda.

If drought relief that would benefit her state has echoes of the infamous 'cornhusker kickback,' Manchin may have opened the door by getting permitting commitments that would see the Mountain Valley Pipeline, which would carry liquid natural gas across about 300 miles of northwest West Virginia and southern Virginia, get approval.

Manchin got commitments from the White House and House Speaker Nancy Pelosi to allow it to be completed, according to his office. Manchin has repeatedly called for getting more energy on the market as a way to combat inflation, even as he promotes other climate friendly initiatives in the overall package, which includes support for electric vehicles and clean energy.... (Read more)