How Wall Street wooed Sen. Kyrsten Sinema and preserved its multi-billion dollar carried interest tax break

Posted on AllSides August 9th, 2022
From The Center
Jonathan Ernst | Reuters

Long before Sen. Kyrsten Sinema, D-Ariz., held up a massive spending bill that promised to create jobs, invest in clean energy and tax the rich — delivering on some of President Joe Biden’s and the Democratic party’s top campaign promises — those working at Wall Street investment firms had donated millions to the freshman senator’s campaign.

One of her main objections was the bill’s so-called carried interest tax provision — which would have closed an arcane loophole in tax law that allowed hedge fund managers, law firm partners and private equity executives, among others,...

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https://www.cnbc.com/2022/08/09/how-wall-street-wooed-sen-kyrsten-sinema-and-preserved-its-multi-billion-dollar-carried-interest-tax-break.html

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