Let’s see if any of the below survives in meaningful amounts in the final Biden package….
In a major development for President Joe Biden’s agenda, Sen. Kyrsten Sinema has signed off on new revenues — including some tax increases on the wealthy — to help pay for Biden’s jobs and families plan.
The Arizona senator has resisted raising the corporate and income tax rates as most of her party wants. But she’s making clear behind the scenes that she’s willing to pay for a roughly $2 trillion climate, education, child care and family leave package with tax increases that still would target rich Americans and large companies.
“Senator Sinema has agreed to provisions in each of President Biden’s four proposed revenue categories — international, domestic corporate, high net worth individuals, and tax enforcement — providing sufficient revenue to fully pay for a budget reconciliation package in the range currently being discussed.”
— A source familiar with the discussions
View from the House: Top tax writer Rep. Richard Neal (D-Mass.) spoke with Sinema on Thursday for what he called a “very cordial” conversation.
“I made my case for rates in terms of efficiency simplicity. And they weren’t punitive. I thought that the conversation went pretty well,” Neal said, adding Sinema supports clean energy tax credits and is in “full accord with paid family leave.”….
No so fast on Sinema….
Still, in one sign of a potential breakthrough, Sen. Kyrsten Sinema (D-Ariz.) signaled Thursday that she’s approved certain funding mechanisms that don’t cross her red line of raising corporate tax and income rates, according to a source familiar with the talks.
“Senator Sinema has agreed to provisions in each of President Biden’s four proposed revenue categories — international, domestic corporate, high net worth individuals, and tax enforcement — providing sufficient revenue to fully pay for a budget reconciliation package in the range currently being discussed,” the source said…