Sen. Kyrsten Sinema, D-Ariz., wants Democrats to drop a measure addressing a tax loophole used by hedge fund managers and private equity executives from Sen. Joe Manchin's, D-W.Va., climate and health care deal.
Sinema is the only Senate Democrat who has not committed to voting for the Inflation Reduction Act, a $740 billion deal cut by Manchin and Senate Majority Leader Chuck Schumer, D-N.Y., to provide $369 billion in climate and energy funding, lower prescription drug costs and crack down on tax avoidance. After days of silence, Axios reported on Wednesday that Sinema has "concerns" about a tax measure that makes up less than 2% of the bill's revenue.
