Click here to read the full article.
Sen. Kyrsten Sinema (D-AZ) announced Thursday that she will “move forward” with the Democrats’ taxation and social spending bill. Sinema was previously holding out on the deal Democrats refer to as the Inflation Reduction Act that Senate Majority Leader Chuck Schumer (D-NY) struck with Sen. Joe Manchin (D-WV).
Economic experts and Biden Administration officials previously noted that the $739 billion Democratic spending plan will do next to nothing to combat inflated prices over the next decade.
According to Fox News, Sinema said on Thursday evening, “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. Subject to the Parliamentarian’s review, I’ll move forward.”
Sinema was the key to the Democrats passing the legislation that instead of addressing inflation, funds progressive climate change wish list items, health care, and also raises taxes.
Schumer said he expected all 50 Democrats in the Senate to vote for the measure. “I am pleased to report that we have reached an agreement on the Inflation Reduction Act that I believe will receive the support of the entire Senate Democratic conference. The final version of the Reconciliation bill, to be introduced on Saturday, will reflect this work and put us one step closer to enacting this historic legislation into law.”
Continue reading here.
Scroll down for comments and share your thoughts!