Schumer gets his R rating
You know how directors facing issues with the MPAA will sometimes add gratuitous nudity or violence to cuts so that they can have something to take out while keeping footage they consider essential and avoiding an NC-17 rating? I suspect this was the role the reform to the carried interest loophole played in finally getting to vote 50:
Senator Kyrsten Sinema, Democrat of Arizona, announced on Thursday evening that she would support moving forward with her party’s climate, tax and health care package, clearing the way for a major piece of President Biden’s domestic agenda to move through the Senate in the coming days.
To win Ms. Sinema’s support, Democratic leaders agreed to drop a $14 billion tax increase on some wealthy hedge fund managers and private equity executives that she had opposed. In a statement, Ms. Sinema said she had also won the inclusion of changes that would “protect advanced manufacturing and boost our clean energy economy,” but did not offer details.
Ms. Sinema said she was ready to move forward with the package, provided that the Senate’s top rules officials signed off on it.
It’s telling that this was Sinema’s symbolic victory, but if this is the trophy she wanted to bring her venture capitalist friends over bottles of Screaming Eagle, so be it.
One can certainly regret the many sound initiatives that didn’t survive the sausage factory, but it’s also kind of incredible that they were able to get 50 votes for any good climate/ACA legislation given the marginal votes involved.