Kyrsten Sinema Trades Climate Bill Support for Tax Breaks for The Rich

Kyrsten Sinema agreed to support the Inflation Reduction Act because Democrats agreed to remove a provision on closing the so-called carried interest tax loophole that enables wealthy hedge funds and investment managers to pay lower taxes. John Iadarola, Brett Erlich and Adrienne Lawrence discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://www.commondreams.org/news/2022/08/05/after-shielding-tax-loophole-private-equity-sinema-backs-senate-bill

"Sen. Kyrsten Sinema announced late Thursday that she has agreed to back Democrats' new reconciliation bill, but only after securing changes to a proposed levy on major corporations and forcing the removal of a provision targeting a notorious tax loophole exploited by rich investors.

In a statement, Sinema (D-Ariz.) said that she and the Democratic leadership agreed to strip out "the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate's budget reconciliation legislation.”

"Because of her—and her alone—billionaire fund managers will keep 'getting away with murder.'"
"Subject to the parliamentarian's review, I'll move forward," said Sinema, a key holdout whose vote is necessary to pass the so-called Inflation Reduction Act, a roughly $740 billion bill that includes renewable energy investments, drug price reforms, health insurance subsidies, and giveaways to the fossil fuel industry, which were added to win the support of right-wing Sen. Joe Manchin (D-W.Va.)

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