Sen. Kirsten leaves her office to visit the Senate Chambers at the US Capitol Building at Cinema, D-Ariz., August 2, 2022. Lawmakers worked to come to an agreement to broaden Democratic legislation ahead of the August recess.
Anna Moneymaker | Getty Images News | Getty Images
Kirsten Cinema signed broad Democratic legislation addressing climate, health care and taxes on Thursday, but made sure to pass the bill in the Senate.
The Arizona Democrat said his support came after Democrats removed a provision to close so-called interest tax loopholes that help wealthy private equity and hedge fund managers pay lower taxes.
“We have agreed to remove the interest tax provision made, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Cinemas said in a statement on Thursday. “Subject to MP’s review, I will proceed.”
Sinima’s remarks on the bill, known as the Inflation Reduction Act, comes after the approval of Sen. Joe Manchin of West Virginia, another moderate Democrat.
Cinema had long been opposed to the deal Manchin struck with majority leader Chuck Schumer that involved interest.
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In his Thursday statement, Sinema said he expects to “pay some abuse taxes to implement interest tax reform, protect investment in the US economy, and stimulate continued growth while closing the most serious loopholes.” To avoid doing it.”
Democrats are aiming to pass legislation before the August recess in an effort to revive elements of President Joe Biden’s agenda ahead of the midterm election.
“I am pleased to report that we have reached an agreement on the Inflation Reduction Act, which I believe will receive the support of the entire Senate Democratic Convention,” Schumer said in a statement Thursday. “The final version of the reconciliation bill, to be presented on Saturday, will reflect this work and move us one step closer to making this landmark legislation into law.”