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Sinema among top private equity cash recipients as she removed billionaire tax loophole from Manchin bill

The carried interest tax provision was removed from the Inflation Reduction Act as part of her approval of the bill

Illustration from file images

By Joe Schoffstall, Thomas Catenacci

Fox News

Sen. Kyrsten Sinema, D-Ariz., has raked in significant amounts of campaign cash from the private equity sector, which notched a victory after she lobbied to remove a billionaire tax loophole from the Inflation Reduction Act as part of her agreement to back the legislation.

The Arizona Democrat announced Thursday that she would “move forward” in supporting the Inflation Reduction Act, the reconciliation package Senate Democrats unveiled last week. As part of the agreement, she successfully removed the carried interest tax provision, which targeted a loophole used by wealthy Americans.

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https://www.foxnews.com/politics/sinema-top-private-equity-cash-recipients-removed-billionaire-tax-loophole-manchin-bill

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