True to her funders, Sen. Kyrsten Sinema is pushing Wall Street interests in relation to the reconciliation package.
Tuesday, a prominent member of the Koch network launched ads urging Sinema to tank her own party’s bill, which includes major renewable energy investments and limited drug price reforms.pointed out that “the changes Sinema is seeking could end up shaving tens of billions — or more — of revenue from the bill.”
“That would likely mean that Democrats would have to cut into some of the roughly $300 billion worth of deficit reduction in the bill,” the outlet noted, “or trim some of the spending on climate and health initiatives.”released Wednesday, the Congressional Budget Office determined the bill would shave $102 billion off the federal deficit over ten years.
Sinema’s support, along with that of every other member of the Senate Democratic caucus, is needed to get the legislation over the finish line.endorsing the Inflation Reduction Act, nearly 130 leading economists including Joseph Stiglitz of Columbia University argued that the bill in its current form “would be more than fully paid for.”
“The revenue raised to finance them would come exclusively from wealthy individuals and corporations,” the economists wrote. “Further, the revenue stems from enhanced tax enforcement and closing some of the most distortionary loopholes in the tax code.”
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