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“Subject to the parliamentarian’s review, I’ll move forward,” Sinema said in a statement.
Senate Majority Leader Chuck Schumer, D-N.Y., said he’s “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.”
Sinema’s agreement with Schumer includes a new excise tax on stock buybacks that would bring in more tax revenue than the carried interest provision, according to a Democratic source familiar with the negotiations.
Democrats hope to pass the bill on a party-line vote through a process known as budget reconciliation that would allow approval with a simple majority and avoid the 60-vote threshold to overcome a Republican filibuster.
