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Senator Kyrsten Sinema is seeking to preserve a tax break for investment managers and narrow a levy hike on large corporations in the economic package Democrats want to pass as soon as this week, people familiar with the discussions said.
A side deal between Sen. Joe Manchin and Senate Majority Leader Chuck Schumer focused on permitting overhaul doesn’t specifically cite the Mountain Valley Pipeline, according to draft legislative language obtained by Bloomberg.
Along the way to the $369 billion package, the West Virginia senator secured an array of concessions for his state and for the fossil fuel industry.
The proposed legislation, called the "Inflation Reduction Act,” will raise taxes on the wealthy to fund investments in climate and health care.
Democratic Sen. Joe Manchin of West Virginia completes his 18-month mission to block Biden Administration's social and climate plans, ending negotiations.