Conservative Democrat Sen. Kyrsten Sinema announced that she will support the Inflation Reduction Act after Democratic leaders agreed to take out proposals to raise taxes on businesses and the wealthy in order to fund the bill.
Sinema had also raised concerns about the 15 percent corporate minimum tax proposal, which is the main revenue raiser in the bill. In fact,that she had directly asked business groups in private calls if the proposal was “written in a way that’s bad” for the businesses. But nixing the minimum tax would weaken Manchin’s goal of reducing the deficit, and it’s unclear if the proposal is still in the bill.
More proposals may be taken out after the Senate parliamentarian reviews the budget reconciliation bill, in which all of the proposals must have an impact on the nation’s budget. It’s unclear if the parliamentarian will rule against any parts of the bill.
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