Democrats got a breakthrough on tax negotiations. Both Kyrsten Sinema and Joe Manchin agreed to a mi

[Lasher]

Source: Politico

Democrats got a breakthrough on tax negotiations. Both Kyrsten Sinema and Joe Manchin agreed to a minimum corporate tax rate.

The agreement: Senate Democrats struck a consequential deal on taxing large corporations on Tuesday, with sign-off from moderate Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.). Senate Democrats struck a consequential deal on taxing large corporations on Tuesday, with sign-off from moderate Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.).

It's a breakthrough: It has the potential to raise as much as $400 billion, according to Sen. Angus King (I-Maine), who wrote the new corporate minimum tax proposal with Sen. Elizabeth Warren (D-Mass.) and Senate Finance Chair Ron Wyden (D-Ore.). Democrats still haven't landed their proposal to tax billionaires' assets, but the consummation of a deal on the corporate side is significant after Sinema opposed increasing corporate rates.

Sinema said the proposal to tax corporations' profits that exceed $1 billion at a 15 percent rate "represents a commonsense step toward ensuring that highly profitable corporations — which sometimes can avoid the current corporate tax rate — pay a reasonable minimum corporate tax on their profits."

Where's Manchin? Warren said that "Manchin has been behind this for a long time." An aide to Manchin said he's been supportive of this type of proposal but wants to see the bill text. Nonetheless, Senate Democrats seemed happy they'd finally landed the plane on a big revenue raiser — provided, of course, that the House goes along.

Read more: https://www.politico.com/minutes/congress/10-26-2021/wydens-tax-deal/

---

Can anybody use some good news?

[comradebillyboy]

1. Good news then. nt

[CentralMass]

2. What did it cost to get this two to agree to that?

[NurseJackie]

6. Compromise. Give and take. The same thing it always takes.

Once we establish THIS mark as the new baseline... we can being work of trying to advance again. We can also begin to try and flip vulnerable GOP senate seats.

I know everyone is focused on "punishing" Manchin and Senima... but if we end up having four votes MORE than the GOP has, then they'll both be irrelevant.

[Irish_Dem]

8. Good question. They certainly did not compromise without some sort of incentive.

[tavernier]

12. Hookers and blow.

Oh wow, did I say that out loud???



Ok ok, just kidding.

[Sucha NastyWoman]

3. Closer to fairness.

Better than going the other way.

[yaesu]

4. Considering the corporate tax rate was 46% in 1981 taxing at 15% is nothing to celebrate. nt

[Champp]

5. "Nooooooo. We don't want to pay our fair share." - Republican Leeches, Inc.

[The Wizard]

7. Can they be trusted?

[Irish_Dem]

9. We don't know. They change their story every day it seems.

[Rebl2]

10. I don't.

They change their minds every time the wind blows!

[Hortensis]

11. That they both keep breaking deals simply isn't true.

There’re plenty of things we can blame someone like Sinema for, but it’s not irresponsible and dishonest media representation of things that aren’t true, nor is it misunderstanding by civilians.

Especially when it comes to Manchin, who is trusted by his colleagues for sending reliable signals and standing on stated positions.