Get ready for inflation and the recession to get worse, as Senator Sinema gave the final corrupt go ahead on the Biden tax bill.
Fox: “Arizonans are sounding off on whether the massive Democrat-backed social spending and taxation bill that was agreed upon as part of a deal between Sen. Joe Manchin, D-W.Va., and Majority Leader Chuck Schumer.
Sinema announced Thursday evening that she would “move forward” with the bill, officially called the Inflation Reduction Act, after previously signaling changes would have to be made in order to for her to agree to supporting it.
Sinema’s move is a win for the private equity sector, which pours large amounts of cash into her campaign’s coffers.”
In Congress, bills typically do exactly the opposite what they’re named, so y’all might want to brace yourselves for Biden’s “Inflation Reduction Act.”https://t.co/9332x624Tg
— Thomas Massie (@RepThomasMassie) August 5, 2022
“We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Sinema said late Thursday. “Subject to the Parliamentarian’s review, I’ll move forward.”
“I hope she doesn’t cave. I really do. I like her. Even though I’m a conservative, I really like her. I hope she doesn’t,” he added. She caved.
“As far as I’m concerned, you just don’t know if that much money is going to combat inflation,” resident Joseph Nunez said. “But without solid, concrete evidence on how it’s going to work, I really don’t think she should back something that’s three quarters of a trillion dollars. That’s a lot of money.”
“I just don’t know if she should back that without details in how that money is going to be spent and where it’s going to be spent, so it can trickle down to the places where it needs to go,” he added. Why will she vote for it?
The private equity and investment sector have doled out to her campaign $282,650 in donations this election cycle, making her the Senate’s sixth-largest parasite on the industry, according to data compiled by the Center for Responsive Politics. The bill contains a gift for them.
Senate Majority Leader Chuck Schumer is the top target of the sector. He plundered nearly $1.2 million from individuals and PACs in the industry this cycle. His campaign also hoovers contributions from hedge funders by more than $400,000, Center for Responsive Politics data shows.
“I believe strongly in the carried interest loophole. I have voted for it. I pushed for it at first for it to be in this bill,” Schumer told reporters Friday. “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.” Uh huh.
Ultra affluent fund managers are now still able to report income as capital gains, not regular income, dropping their tax rate from 37.9% to 23.8% and saving them hundreds of thousands of dollars. The equity and hedge fund donors got a nice ROI from Sinema and Schumer. Did the taxpayers?