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Sen. Sinema Will Support Reconciliation Bill After Dems End Tax Increase on Rich Investors

HeadlineAug 05, 2022

Democratic Senator Kyrsten Sinema said Thursday she will support a budget reconciliation bill containing some of the Democrats’ legislative priorities on healthcare and the climate crisis. As a condition of her support, Sinema demanded Democratic leaders agree to abandon a provision that would close the “carried interest loophole” — a tax break exploited by hedge fund and private equity managers to pay lower tax rates than middle-income workers. Senate Majority Leader Chuck Schumer said a revised version of the bill would be released on Saturday.

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