Kyrsten Sinema, GOP Fuel Fears for Fate of Democrats' Climate Plan
Quote:
That means contending with the demands of Sen. Kyrsten Sinema (D., Ariz.), another pivotal centrist whose support Democrats will need for the bill, as well as an anticipated onslaught of Republican amendments that could challenge Democratic unity on issues like raising taxes and border policy.
Ms. Sinema, who isn't expected to say whether she supports the legislation until the final vote on its passage, is now seeking to remove the bill's carried-interest provision, which brings in about $14 billion in revenue over 10 years, and add roughly $5 billion in funding for combating droughts, according to people familiar with the matter. Aides are also preparing for possible changes to the bill's 15% minimum tax on large, profitable corporations.
Ms. Sinema had previously opposed raising taxes on the carried-interest income of private-equity managers, though she also helped craft many other elements of the bill during talks last year. A spokeswoman for Ms. Sinema declined to comment but has previously said the senator was studying the bill.
Ms. Sinema told donors at a campaign fundraiser Wednesday night on Capitol Hill that it makes no sense to squeeze the private equity industry that will finance projects for the roughly $1 trillion infrastructure and $280 billion semiconductor bills that have recently been signed into law, according to a lobbyist who attended the event.
Quote:
Ms. Sinema has told people privately she plans to seriously consider proposed amendments to the climate-spending bill and won't necessarily vote no to prevent changes to the bill, according to people familiar with her comments.
"Those political points are going to be made. The minority, they're going to look at that as their mission. And the majority's going to look at their mission as: protect the product," said Cathy Koch, who was a tax aide to former Senate Majority Leader Harry Reid (D., Nev.). "You have to really line up as a bloc to be like: nothing, nothing," she said.
