Kyrsten Sinema Is Demanding Democrats Keep A Tax Break For The Super-Wealthy

[TheBlackAdder]

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Sen. Kyrsten Sinema (D-Ariz.) wants Democrats to drop a provision tightening a tax loophole associated with hedge fund managers and private equity executives from their $740 billion package enacting President Joe Biden’s climate, health care and tax plans, according to reports from Politico and Axios.

Sinema’s apparent desire to nix the provision — which raises just 2% of the proposal’s total revenue and does not even fully close the loophole — does not immediately endanger Democrats’ hope of passing the legislation out of the Senate in the coming days. But it shows how the moderate first-term senator is willing to protect some of the country’s wealthiest Americans from even small tax hikes.

Sinema’s office would not directly confirm nor deny the reports, and said the senator is still reviewing the legislation and awaiting rulings from the Senate parliamentarian on its contents. Politico and Axios also reported Sinema wants additional funding for drought resiliency — a key priority for Arizona, where water supply remains a top issue.

https://www.huffpost.com/entry/kyrsten-sinema-tax-break-loophole_n_62eae726e4b0ecfe3f6d4490

I've seen this before. Sinema will balk, get what she wants and then Manchin will feign another concern.

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[Casady1]

1. Manchin is on board

it is his bill. Give up the 14 billion and move forward.

[AZSkiffyGeek]

4. Sounds like it would be 19B total

I read she's asking for 5B for drought relief - which I wholeheartedly support out here.
That 19B shouldn't affect the deficit reduction too much, which I'd think will keep Manchin on board.

Or at least I hope.

[Hugh_Lebowski]

6. Latest news about Mead/Powell sitch is freaking me the f*** out ...

REALLY making me wanna sell the place and GTFO before we're all just abandoning our houses and mortgages by the millions because there's no more water and electricity charges are spiking like mad cause Hoover is offline ...

[AZSkiffyGeek]

7. I agree

But I will say that I find the whole "old bodies from Vegas mob hits surfacing as the water level goes down" kind of entertaining.

Have you ever read "The Water Knife" by Paolo Bacigalupi? TERRIFYING look at Vegas/Phoenix water wars in the future.

[Hugh_Lebowski]

9. I have not read, I'll check it out, thx! (nt)

[Happy Hoosier]

8. She sucks, but take the W and move on. NT

[AZSkiffyGeek]

11. That's my attitude

If we can't get a (relatively) small tax hike into it, but she's onboard with everything else, that's a good thing at this point. And as much as we hate him, Manchin is a savvy politician, and should see that as well. And if this is truly such a bipartisan thing as everyone makes it up to be, introduce a seperate bill.
Although there's always the chance that she'll find more to object to.
This reminds me of the reconciliation for the 2021 stimulus.

[Wounded Bear]

14. Leaning in that direction. They played out the clock, so there's no time for rewrites...

Pass the bill - without this - and we might get a chance to re-address it next session.

If the bill doesn't pass, it makes it harder to retain the House and Senate.

I think AZ will boot her ass in '24 anyway.

[we can do it]

19. Agree

[Just A Box Of Rain]

12. Except that Joe Manchin is (rightfully IMO) insistent on closing this tax loophole.

[Johnny2X2X]

20. Manchin has $300 Billion in deficit reduction in this

This is $14B of that, certainly this isn't a deal breaker if that's her only demands.

Sinema making very concrete proposals is a great step and I think this means this will get done.

[Just A Box Of Rain]

24. Who knows if this is a "deal breaker" or not?

Manchin has long targeted this dubious tax break and specifically included ending it as part of his bill.

[Johnny2X2X]

25. His bill doesn't end it

It simply reduced it, it required those assets to be held for 5 years to take advantage of the loophole, rather than the current 3 years. Eliminating it would have meant $70 Billion more in revenue.

She wants it to remain at 3 years, and she wants $5 Billion for drought relief in the SW. Give her $7B on drought relief and change it to 4 years.

This is an almost $1 Trillion deal, she's got demands worth $19B, it can happen.

Here's the reality, Manchin wrote plenty into this bill for the fossil fuel industry he is beholden to, he's not going to risk that for this loophole. I predict he caves and gives her what she wants. The risk is that she then asks for more.

[FBaggins]

18. On board how?

Sinema's "demand" (if it is indeed a demand) directly conflicts with Manchin's prior claims about his own priorities.

So are you saying that he has changed his mind and will allow the carried interest change to drop out of the bill? Or just that he was on board with the initial compromise? Because Sinema is hinting that she is not.

[2naSalit]

2. GRrrrr!

[Pisces]

3. I'm in Az and I can't wait to vote her out!

[Walleye]

5. Call her bluff

[Johnny2X2X]

10. Seems like they can do what she wants easily

Manchin is on board because it's his own bill.

This is great news IMO.

[sakabatou]

13. She's doing it because of her backers/rich donors.

[Novara]

15. She'd rather protect her wealthy donors than protect Americans' right to vote.

How I despise that preening fuck.

[padah513]

16. Cornyn from Texas is her friend and

She has her orders. Then it'll be exactly like you said. A change will be proposed to pacify her and then Manchin will balk. Same old same old with these two. We need to hold the House and then get a few more Senators, then tell these two to pound sand by taking away committees and Chairmanships.

[dweller]

17. In other words

Perks and Pork …


✌🏻

[superpatriotman]

21. What's her angle?

Her political career is about to end. What's next?
Private equity fund? Network news?

[maxsolomon]

22. her term ends in 2024

so, she's got plenty of time to grandstand.

[RANDYWILDMAN]

23. Gotta wonder who in Arizona, she is representing with this demand ?

pretty weak screwing over most americans for 15 billion for your donors.

Why can't one repub step up and vote for all americans , their solidarity is disgusting

[budkin]

26. Predicted this from the second Manchin got back on board

She's been corrupted 100%