The final version of the bill – which contains provisions on health care, funding the IRS, and climate initiatives – was expected to be introduced Saturday.
Arizona Sen. Kyrsten Sinema Agrees To Back Inflation Reduction Act – Deadline
Sen. Kyrsten Sinema (D-AZ) agreed Thursday night to “move forward” on the Inflation Reduction Act, clearing the way toward a potential passage of the spending bill if another holdout Democrat does not emerge. ‘
Sinema and fellow Democrat Sen. Joe Manchin of West Virginia were the party’s holdouts on the previous incarnation of the Biden administration’s larger “Build Back Better” bill. Manchin and Sinema were said to be troubled by that bill’s prospects of adding to rampant inflation. Without their votes, and given a solid GOP opposition, the prospects of getting something done in the Senate appeared doomed.
But Manchin changed his mind earlier this week on a $739 billion version of that bill, and Sinema has now gotten her wish list fulfilled and has agreed to support the legislation. A 50-50 split in the Senate vote would throw the decision to VP Kamala Harris, who would presumably agree to it.
“We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and boost our clean energy in the Senate’s budget reconciliation legislation,” a statement from Sinema read.
“Subject to the Parliamentarian’s review, I’ll move forward.”
Senate Majority Leader Chuck Schumer, who convinced Manchin to back the new version, said in a statement the new “agreement preserves the major components” of the spending package.