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Buy NowSen. Kyrsten Sinema (D-AZ) opposes many of the tax increases proposed to pay for the Democrats’ $1.9 trillion infrastructure bill, according to a Wall Street Journal report.
The Wall Street Journal reported Wednesday that the Arizona Democrat, a pivotal swing vote in the Senate, told lobbyists that she opposes raising corporate tax rates, high-income individual taxes, and capital gains. The Journal noted that Sinema’s stances on tax increases is pushing Democrats to craft an infrastructure bill that does not include major offsets for the infrastructure bill or the Build Back Better Act.
Sinema and Sen. Joe Manchin (D-WV) serve as the two swing votes for Democrats to pass their infrastructure agenda.
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Buy NowDemocrats have lowered the spending target for the Build Back Better Act from $3.1 trillion to roughly $2 trillion after Sinema and Manchin have raised concerns about the bill’s enormous price tag. Democrats also hope to spend $1.2 trillion through the so-called bipartisan infrastructure bill, or the Infrastructure Investment and Jobs Act.
Biden also reportedly told House moderate Democrats that the revised framework for the Build Back Better Act would not include raising the state and local tax (SALT) deduction, which primarily benefits wealthy, blue states such as New Jersey and New York.
House Democrats have proposed raising taxes significantly to pay for their Build Back Better Act. Lower-chamber Democrats proposed raising the corporate tax rate to 26.5 to 21 percent, raising the top income tax bracket rate to 39.6 from 37 percent, and increasing the top capital gains rate to 28.8 from 23.8 percent. The House Democrat plan would create “a three percent surtax on income above $5 million.”
“I know some folks want to take away rate increases. It makes getting there using more interesting ideas—I want to get there but I’ve got a long way to go,” said Sen. Mark Warner (D-VA).
