Sinema Took Money From Wall Street While Killing Tax Investors | National policy

WASHINGTON (AP) — Senator Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longstanding goal of raising taxes on wealthy investors, was awarded nearly $1 million in over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan.

For years, Democrats have promised to raise taxes on these investors, who pay a significantly lower rate on their earnings than ordinary workers. But just as they closed in on that goal last week, Sinema pushed through a series of changes to his party’s $740 billion election-year spending package, eliminating a proposal to increase the tax on “deferred interest” on private equity income while securing a $35 billion exemption that will spare much of the industry from a separate tax hike that other large corporations now have to pay.

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