Senate Majority Leader Chuck Schumer, D-N.Y., on Friday defended the decision to remove the carried interest tax provision from the Inflation Reduction Act in order to appease Sen. Kyrsten Sinema, D-Ariz.
“I’m pleased we have reached an agreement on the Inflation Reduction Act that I believe will receive the support of the entire Senate Democratic conference,” Schumer said, according to The Hill.
“I believe strongly in the carried interest loophole, I have voted for it, I have pushed for it, I have pushed for it to be in this bill,” he added. “Sen. Sinema said she would not vote for the bill, not even move to proceed unless we took it out, so we had no choice.”
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