Arizona Senator Kyrsten Sinema – the lone Democrat holdout on the Biden administration’s revamped reconciliation bill – has finally signed off on it, after Democrats agreed to preserve the so-called carried interest loophole that allows investment managers (like her former bosses) to shield the majority of their income from higher taxes.

Last summer Sinema interned a winery owned by the co-founders of one of the biggest private equity firms in the world.

The tax increases she’s blocking (tightening the carried interest loophole) would directly benefit her private equity friends. https://t.co/yTHQFv9W4p

— FxMacro (@fxmacro) August 3, 2022

In fact, Sinema told donors at a Wednesday night fundraiser that it makes ‘no sense’ to squeeze the private-equity industry that will finance various projects for the roughly $1 trillion infrastructure and $280 billion semiconductor bills that were signed into law earlier,

Keep reading this article on Zero Hedge - Blog.

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