![]() ![]() Sinema, along with six other Democrats, supported that amendment, leading to its passage. Specifically, Thune wanted to roll back a provision that could sweep some private equity companies and the businesses they own into the 15 percent corporate minimum tax included in the bill. Senate Minority Whip John Thune proposed an amendment that would exempt businesses owned by private equity from Democrats’ new corporate minimum tax, which would be paid for with a one-year extension of a cap on State and Local Tax deductions. Kyrsten Sinema (D-Ariz.) to change the legislation’s corporate minimum tax. Senate Democrats’ push to pass their climate, tax, and health care package hit a speed bump midday Sunday, as Senate Republicans sought to pursue an amendment with Sen. Of course, final passage didn’t occur without some last-minute drama. The bill also increases IRS enforcement and extends Obamacare subsidies through the 2024 election. The core of the legislation includes lowering some prescription drug prices, providing more than $300 billion into climate change and clean energy and imposing a 15 percent minimum tax on large corporations, plus a new 1 percent excise tax on stock buybacks. The bill now heads to the House, which will take it up Friday. And while the package is far smaller than the $3.5 trillion legislation that Democrats originally envisioned, it’s larger than many in the party expected just two weeks ago. The Senate’s passage of the bill caps off more than a year of up-and-down intra-party negotiations. ![]()
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