According to a report from CNN, Arizona Senator Kyrsten Sinema, previously a hold-out on the Democrats’ Inflation Reduction Act, has agreed to support it. Dems now have the 50 votes they need to pass the bill. AdvertisementIn a statement, Sinema indicated that she won several changes to the tax provisions of the package, including removing the tax on carried interest, which would have impacted hedge fund managers and private equity. “We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Sinema said. “I am pleased to report that we have reached an agreement on the Inflation Reduction Actthat I believe will receive the support of the entire Senate Democratic conference,” Majority Leader Chuck Schumer (D-NY) said.

Source: CNN August 05, 2022 07:49 UTC