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Willing to die on Hedge Fund Hill

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The acting president may have an ask:

What we’re hearing: Sinema is looking at significantly beefing up the reconciliation bill’s funding for droughts and water security in the Southwest, sources familiar with her thought process tell Axios.

  • She views the current $369 billion climate and energy portion of the bill as insufficient for addressing threat resiliency funding.

On taxes, Sinema has concerns with the structure of the 15% corporate minimum “book tax” and whether the burden could get passed down to employees, the sources said.

  • Sinema supports cracking down on tax avoidance, but has long voiced her opposition to closing the carried interest loophole.
  • She’s concerned that the provision, which would contribute $14 billion toward paying down the bill’s $740 billion total, could undermine economic competitiveness, the sources said.

If you have to meet this price to make a deal, then make the deal (particularly since the loophole would presumably be restored by the next GOP trifecta anyway.) But Jesus is the carried interest loophole a ridiculous thing to threaten to kill the bill over — I would love to hear someone explain how edge fund parasites keeping more money makes the US more “economically competitive.”

But, at any rate, a stupid demand is at least better than “no.”

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