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Title:Democrats secure breakthrough with Kyrsten Sinema on climate bill
Date:8/5/2022 8:53:58 AM

The Arizona senator said she had agreed to last-minute changes on the measure’s tax and energy provisions

Senate Democratic leaders say they have reached an agreement on the party’s major $739bn climate and economic bill with Kyrsten Sinema – the centrist Democrat whose opposition remained a major hurdle to passing the most ambitious US climate legislation yet.

The support of Sinema, a former member of the Green party who has evolved into one of Congress’s most conservative Democrats, was crucial to the passage of the bill, which tackles energy, environment, health and tax measures. Its success is seen as the Democratic party’s most substantive chance to deliver domestic policy progress before the midterm elections.

Backing from all 50 Democratic senators will be needed to pass any legislation in the evenly divided Senate given the party’s narrow majority and Republican resistance to acting on the climate crisis.

The Senate majority leader, Chuck Schumer, said lawmakers had achieved a compromise “that I believe will receive the support” of all Democrats in the chamber. His party needs unanimity to move the measure through the 50-50 Senate, along with Vice-President Kamala Harris’s tie-breaking vote.

Sinema, the Arizona senator seen as the pivotal vote, said in a statement that she had agreed to 11th-hour changes in the measure’s tax and energy provisions and was ready to “move forward” on the bill.

She said Democrats had agreed to remove a provision raising taxes on “carried interest”, or profits that go to executives of private equity firms. That’s been a proposal she has long opposed, though it is a favorite of other Democrats, including the conservative West Virginia Democratic senator Joe Manchin, an architect of the overall bill.

The carried interest provision was estimated to produce $13bn for the government over the coming decade, a small portion of the measure’s $739bn in total revenue.

Securing Sinema’s...

Organization:Guardian - Climate Change
Date Added:8/6/2022 6:37:04 AM