Changes mulled for budget package

Politico reported that Sinema wants to get rid of a provision that would lengthen the holding period for carried interest required to benefit from more generous tax treatment.

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National News

August 4, 2022 - 2:27 PM

Sen. Kyrsten Sinema (D-AZ) arrives at the U.S. Capitol Wednesday. GETTY IMAGES/DREW ANGERER/TNS

Democrats may need to make some changes to the tax portion of their budget reconciliation package to earn the support of Arizona Sen. Kyrsten Sinema, including possible removal of a tax increase on investment fund managers and softening a new minimum tax on the biggest corporations.

The bill could also undergo other tweaks as Senate Parliamentarian Elizabeth MacDonough continues her review of the bill. Changes to the prescription drug pricing provisions are already in the works, but many pieces of the package have yet to go through the formal “Byrd bath” to determine whether the language complies with budget rules.

Despite all the work still underway, several Democratic senators said they anticipated voting on the motion to proceed to the reconciliation package as soon as Thursday and beginning the “vote-a-rama” process, in which senators can offer unlimited amendments to the measure, as soon as this weekend.

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