Sinema steers Dems into uncharted territory on taxes
Rep. Richard Neal may be the chair of the House Ways and Means Committee, but these days Sen. Kyrsten Sinema (D-Ariz.) is the queen of tax — and her demands now have Democrats scrambling.
Her push for more novel tax increases, rather than the slate of rate hikes Democrats had been banking on, is raising a host of complications lawmakers are scrambling to address.
With their new billionaires tax proposal meant to placate Sinema, Democrats are building an entirely new tax regime on the fly, amid numerous questions over not only how it would work but whether it is even constitutional. And that's not to mention hostility from House Democratic tax writers, who have already approved a comprehensive package focused on rate hikes.
At the same time, they’re dropping long-standing plans to roll back former President Donald Trump’s cut in the corporate tax rate. That left Democrats hurrying to find a substitute, which they unveiled Tuesday: a complicated new corporate minimum tax that may make some lawmakers’ eyes glaze over.
https://www.msn.com/en-us/news/politics/sinema-steers-dems-into-uncharted-territory-on-taxes/ar-AAPZfE2
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