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Democrats secure Sinema’s support for Inflation Reduction Act

Sen. Kyrsten Sinema (D-Ariz.) said Thursday that she plans to “progress” with a revised version of Democrats’ reconciliation bill after reaching a deal to cut back a few of the original tax provisions and strengthen climate funding.

Why it matters: Sinema was potentially the final hurdle for Democrats who’ve been wanting to clinch President Biden’s longtime goal of passing an ambitious package tackling climate change, healthcare and taxes renamed the “Inflation Reduction Act of 2022.”

  • “We’ve agreed to take away the carried interest tax provision, protect advanced manufacturing, and boost our clean energy economy in the Senate’s budget reconciliation legislation,” Sinema said in a statement.
  • “At the mercy of the Parliamentarian’s review, I’ll progress.”

Between your lines: With Sinema now up to speed, and Sen. Joe Manchin (D-W.V.) an integral negotiator of the legislation, Democrats feel confident they are able to finally pass their ambitious, Democrats-only reconciliation package.

  • The ultimate bill is at the mercy of change according to the Senate Parliamentarian’s verdict on verifying if the provisions adhere to the “Byrd Rule” for budget reconciliation bills.

What they’re saying: Biden said in a statement on Thursday night that the U.S. had “taken another critical step toward reducing inflation and the expense of living for Americas families” and he looked forward to taking on and passing the legislation as quickly as possible.

  • “The Inflation Reduction Act can help Americans spend less on prescription medications, health premiums, plus much more,” Biden said.
  • “It’ll make our tax system more fair by making corporations pay the very least tax. You won’t raise taxes on thosemaking significantly less than $400,000, and it’ll decrease the deficit,” he added.
  • “In addition, it makes the biggest investment ever sold in combatting climate change and increasing energy security, creating jobs within the U.S. and saving people moneyon their energy costs.”

What’s next: Senate Majority Leader Chuck Schumer (D-N.Y.) said the Senate will vote on a measure to advance the reconciliation bill on Saturday.

  • The Senate will get into a “vote-a-rama” period where lawmakers will propose and vote on some potential amendments.
  • Democrats intend to pass the ultimate version in a few days before leaving because of their August recess.

Editor’s note: This short article has been updated with new details throughout.

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