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Senate Democrats impose new tax rules on corporations, but Sinema forces them to preserve benefits for wealthy investors - Publication Date |
- Aug 11, 2022
- Episode Duration |
- 00:52:26
On this edition of Your Call, we discuss the tax provisions in the Democrats' reconciliation bill, which passed the Senate on Sunday without one Republican vote.
The bill would raise more than $700 billion over a decade by closing corporate tax loopholes, empowering the IRS to enforce tax laws, taxing stock buybacks, and extending a limitation on deductions for business losses.
Senator Kyrsten Sinema removed the tax provisions for wealthy investors and hedge fund managers. Over the past few weeks, private equity lobbyists were in constant touch with her office, according to the Wall Street Journal.
Guests:
David Cay Johnston, editor and co-founder of
DCReport.org, visiting lecturer at Syracuse University College of Law, and author of several books, including Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)
Joe Hughes, federal policy analyst with the Institute on Taxation and Economic Policy
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