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Sinema Agrees to Broad Tax Hike Outline to Fund Biden Agenda

  • Deal advances negotiations to pay for new social programs
  • Corporations, global firms, wealthy would face tax increases
Bloomberg business news
Democrats Debate Tax Outline to Fund Biden’s Economic Agenda

Senator Kyrsten Sinema has agreed to raise tax revenue from companies and the wealthy to fully fund President Joe Biden’s economic agenda, according to a person familiar with the matter.

The Arizona Democrat -- who has opposed raising rates on corporations and individuals -- will back ways of increasing revenue from domestic corporations, global companies, high net-worth individuals and through tax enforcement, according to the person who requested anonymity because the talks are private.