Stock-buybacks tax in, carried-interest section out — here’s what’s in Senate Democrats’ bill as it heads for passage

- Advertisement -


Senate Democrats continue to make progress with their $739 billion healthcare, climate and tax package, as Sen. Kyrsten Sinema looks set to support the measure after negotiating changes to some of its tax provisions.

- Advertisement -

Here are key changes due to Cinema:

- Advertisement -

Other key elements of the package haven’t changed since it was announced last week by Democratic Sen. Joe Manchin of West Virginia and Senate Majority Leader Chuck Schumer, the New York Democrat. They include:

Pharma CEOs use earnings calls to criticize drug-pricing proposal

- Advertisement -

And Mulling an EV? A first-ever $4,000 tax incentive for used electric vehicles is part of Manchin’s compromise

Analysts are sounding increasingly optimistic about this budget reconciliation bill’s chances for becoming law. If it’s passed by the 50-50 Senate, it then would need the Democratic-controlled House’s approval before getting signed into law by President Joe Biden, who has called for Congress to pass it.

“We are increasing our odds for the revised Build Back Better/Inflation Reduction Act to 75%-80% from 65%, given the provisional endorsement of Sen. Kyrsten Sinema (D-AZ) and the initial scheduled vote for Saturday,” said Benjamin Salisbury, director of research at Height Capital Markets, in a note on Friday.

In her statement on Thursday, Sinema said she would “move forward” subject to the results of the bill’s review by the Senate parliamentarian, Elizabeth MacDonough. MacDonough is scrutinizing the measure to ensure its provisions comply with Senate procedures.

A guide to budget reconciliation, which Democrats could use to push Biden’s agenda

,

Credit: www.marketwatch.com /

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox