Posted on 08/07/2022 8:57:06 PM PDT by SeekAndFind
As we reported earlier, there’s an ongoing “vote-a-rama” happening on the Manchin-Schumer deal, where the Republicans are trying to offer amendments to blunt the harm of the bill and expose the Democratic lies about it. Democrats claimed the additional 87,000 IRS agents were about going after billionaires. But when an amendment was introduced to restrict the application of the bill to those making over $400,000, Democrats voted it down.
But now, there was a last-minute roadblock with the bill, and it came from Sen. Kyrsten Sinema (D-AZ).
Let me try to explain this in short bursts.
1. The bill does NOT have 50 votes at the moment.
2. B/c @SenatorSinema opposes how the corp. minimum tax (15%) would apply to some businesses w/ subsidiaries, notably including hedge fund and private equity.2/
— Lisa Desjardins (@LisaDNews) August 7, 2022
SO WHERE ARE WE:
– Democrats do not have 50 votes for this bill in reality at the moment.
– Though they have 50 in theory IF they can work things out w/ Sinema.
– At the moment though, this is a rather tough stare-down.And it is not clear how long, how this will resolve.
— Lisa Desjardins (@LisaDNews) August 7, 2022
Sinema was in discussions with Senate GOP Whip John Thune over an amendment regarding the 15 percent corporate minimum tax. Sen. Joe Manchin (D-WV) was also involved in the discussions.
The issue has been percolating since Saturday after Sinema discovered language in a draft of the bill showing how subsidiaries of companies owned by private equity firms could be hit by the 15% corporate minimum tax if their combined book income exceeds $1 billion, according to a Senate source familiar with the matter.
If Sinema succeeds in altering that provision, the bill would raise $35 billion less in revenue, potentially reducing the roughly $300 billion in deficit savings, which is a key priority for Manchin.
In a potential problem for Democrats, Sinema could back a Thune amendment to exempt those companies from the corporate minimum tax – and pay for the lost revenue by extending for a year a limitation on individuals’ state and local tax deductions through 2026.
But if they do that, that increases the possibility that they lose Democrats in the House who want those limitations repealed.
If they resolve it according to that amendment, they might still lose the House vote then.
Enough of this drama queen’s Look at Me antics.
The bill already passed the Senate. What’s this about?
RE: Enough of this drama queen’s Look at Me antics.
I don’t mind. As long as the antics DO throw a roadblock to this atrocity, it’s all good. Let’s have more of it until the bill dies.
Sinema stepping up to help her hedge fund donors. “How dare you tax MY billionaires”! Campaign donations are some of the most profitable investments the wealthy can make.
I hope she scuttles the bill (she won’t), but she’s doing this for uber-rich donors, not for her constituents. Where is she when WE are getting screwed?
What pisses me of is why they all think we need to make the IRS the largest Federal department behind the DOD?
Our federal government is now tax people and crooked cops.
We still have a military, but they can only do pole dances for horny Chinese soldiers.
What pisses me of is why they all think we need to make the IRS the largest Federal department behind the DOD?
Our federal government is now tax people and crooked cops.
We still have a military, but they can only do pole dances for horny Chinese soldiers.
I’m confused too.
EXACTLY....
Thanks for clarification. Moderators should remove this post.
I’m guessing:
The Dims need fifty votes to pass a stupid bill.
They make deals with the idiots like Manchin and Sinema to get fifty votes.
The the bill is tweeked a little to get it passed the NEXT group to vote on it. Which means TAKING OUT THE THINGS SINEMA AND MANCHIN WANTED IN.
WHICH MAKES IT UNAPPEALING TO SINEMA AND MANCHIN ALL OVER AGAIN.
THESE REPRESENTATIVES OF THE GREATEST COUNTRY ON THE PLANET ARE NOTHING BUT FIVE YEAR OLDS...as far as character, honesty and integrity are concerned.
I thought the bill passed in the senate.
It has to be voted on by the House.
I’m assuming the House will make some changes; I think the revised version will have to be voted on by the Senate again?
If the Republicans were smart, they would run ads for their House and Senate candidates playing up the 87,000 additional IRS agents. Everybody hates the IRS....that should help every Republican candidate who expresses outrage about this provision...assuming there are any.
Those 87,000 scumbags are going to harass small business.
The RATS claim, “Oh no, they’re only going after billionaires.”
There are only 800 billionaires in the country. We’re supposed to believe that the IRS is going to have 100+ agents going after EACH billionaire? Yeah, sure.
“If the Republicans were smart . . .” - thanks, no need to respond on that!
Doubt Pelousy will allow changes as she’s desperate to change the subject from her final destruction of US-China business relations.
Meanwhile I didn’t realise the plug to satisfy Sinema’s private equity and hedge fund donor base was to EXTEND President Trumps SALT deduction cap all the way to 2026. That’s honestly music to my ears and should cost the Rats 3-4 marginal suburban House seats in CA, NY and IL.
That’s what I thought.
Looks like done deal by despots selling off America one deal at a time! F them all!
Bankrupting the country is the uniparty’s plan. The bill will eventually pass as will countless others.
“Those 87,000 scumbags are going to harass small business.”
The OBodyMortagecare is revised and updated in this one
Bypassing the Penal-ty removal, they may audit everyones in home living
Quite insidious. As with these insurance companies periodic calls to audit your in home “health” conditions. According to them.
Hardcore fascism.
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