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Sinema Seeks to Keep Private Equity Break, Curb Corporate Tax

  • Manchin has insisted that carried interest remain in bill
  • Sinema requests could shrink taxes by more than $100 billion
Bloomberg business news
Sinema Targets Private Equity, Corporate Tax in Economic Bill
Updated on

Senator Kyrsten Sinema is seeking to preserve a tax break for investment managers and narrow a levy hike on large corporations in the economic package Democrats want to pass as soon as this week, people familiar with the discussions said.

The Arizona Democrat, a pivotal vote in the Senate, is asking to drop a provision from the bill that would scale back a tax break for fund managers, known as carried interest, according to one person, who asked for anonymity because the discussions are private. She is also pushing to narrow the 15% domestic minimum tax on financial profits, also known as the book tax, people said.