NEW: Sinema Announces Support for Democrats’ $740 Billion Tax-and-Spend Bill After Manchin Strikes Deal with Schumer
Democrat Senator Kyrsten Sinema (AZ) said she will support the Democrats’ $740 billion tax-and-spend bill.
Sinema was the last Democrat holdout after Manchin struck a deal with Schumer.
Last week Sinema dodged questions from reporters when asked if she would join Manchin and move the bill forward.
Sinema declines to comment on Manchin-Schumer deal. Several of us tried to ask her about it. pic.twitter.com/gA7noJnVSS
— Manu Raju (@mkraju) July 28, 2022
Sinema’s announcement comes after Democrat Senator Joe Manchin negotiated a deal with Schumer to support the bill.
Manchin on Sunday absurdly claimed Biden’s ‘inflation reduction act’ lowers energy costs and doesn’t raise taxes.
Manchin is lying.
The new spending bill does the complete opposite.
Penn Wharton, Moody’s and the Tax Foundation all said the new bill will NOT reduce inflation.
“The Democrats’ Bidenflation Scam would INCREASE taxes on oil by $25B. And as inflation goes up, so does the tax!” the RNC said. “Natural gas isn’t spared either. Industry experts warn the methane tax in the bill would increase natural gas costs by 17%, or $100 a year for the average family.”
The tax-and-spend bill will be passed through budget reconciliation (no Republican votes needed) so it still needs approval from the Senate Parliamentarian.
“Subject to the Parliamentarian’s review, I’ll move forward,” Sinema said.
According to USA Today, Sinema “said she negotiated the removal of a provision to increase taxes on carried interests targeting wealthy investors, resolving a key difference that had held back her support.”
“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,” Schumer said.
The Senate will vote on the ‘Inflation Reduction Act’ on Saturday.