Senator Schumer: Carried Interest Provision Removed to Secure Senator Sinema's Support
Senator Schumer says the carried interest provision in the Inflation Reduction Act was removed to help secure the backin…
Senator Schumer News Conference on Inflation Reduction Act
2022-08-05T19:48:31-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvODRhXC8wMDFcLzE2NTk3NDM2MjRfMDAxLmpwZyIsImVkaXRzIjp7InJlc2l6ZSI6eyJmaXQiOiJjb3ZlciIsImhlaWdodCI6NTA2fX19Senate Majority Leader Chuck Schumer (D-NY) predicted all 50 Democrats would vote on a sweeping proposal to address climate change, inflation, energy costs, health care, and taxes. The leader said he secured the last vote after negotiating with Senator Kirsten Sinema (D-AZ) to remove a provision that would have closed a tax loophole used by hedge fund managers and others. “Senator Sinema said she would not vote for the bill, not even move to proceed, unless we took it out. So we had no choice,” said the leader. “We’re adding in an excise tax on stock buybacks that will bring in $74 billion dollars.” He said progressive lawmakers were “excited” about the stock buyback provision.
Senate Majority Leader Chuck Schumer (D-NY) predicted all 50 Democrats would vote on a sweeping proposal to address climate change, inflatio… read more
Senate Majority Leader Chuck Schumer (D-NY) predicted all 50 Democrats would vote on a sweeping proposal to address climate change, inflation, energy costs, health care, and taxes. The leader said he secured the last vote after negotiating with Senator Kirsten Sinema (D-AZ) to remove a provision that would have closed a tax loophole used by hedge fund managers and others. “Senator Sinema said she would not vote for the bill, not even move to proceed, unless we took it out. So we had no choice,” said the leader. “We’re adding in an excise tax on stock buybacks that will bring in $74 billion dollars.” He said progressive lawmakers were “excited” about the stock buyback provision. close
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