Sen. Kyrsten Sinema said Thursday she will “move forward” with the Democrats’ social spending and taxation bill, after previously holding out on deal struck by Sen. Joe Manchin and Senate Majority Leader Chuck Schumer.
“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, D-Ariz., said. “Subject to the Parliamentarian’s review, I’ll move forward.”
MANCHIN CLAIMS DEMOCRATIC SOCIAL SPENDING AND TAX BILL IS FILLED WITH GOP PRIORITIES
Sinema’s support was widely considered the biggest hurdle for Democrats to pass the plan on climate, energy, health care and taxes, which if passed will cap over a year of intra-party negotiations. Sen. Jon Tester, D-Mont., still has not committed to voting for it, but Schumer, D-N.Y., said Thursday he believes all Senate Democrats will vote for the package.
“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 final version of the Reconciliation bill, to be introduced on Saturday, will reflect this work and put us one step closer to enacting this historic legislation into law.”
Democrats plan to pass the legislation using a process called budget reconciliation, which allows them to get around the Senate’s 60-vote filibuster threshold to pass legislation on party lines. Manchin killed previous reconciliation efforts last year, at the time called “Build Back Better,” which were much more expansive than the bill he proposed with Schumer last week.
This is a developing story, please check back for updates.