Tag: Sinema, Kyrsten

With Federal Aid on the Table, Utilities Shift to Embrace Climate Goals

“I’ve spent too much time this last year flying in helicopters over areas of scorched earth,” Mr. Biden told them, referring to a rash of wildfires, blamed in part on climate change. “More territory is burned to the ground in the West Coast than the entire state of New Jersey in terms of square miles,” […]

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Congress Should Back This Promising Bill on Immigration

Customs and Border Protection, the agency that would help run the new processing centers, has a long and well-documented history of mistreating migrants. Watchdog groups including the American Civil Liberties Union have raised legitimate concerns about any expansion of the authority of an agency that has often behaved as if it is fighting a war […]

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Whistle-Blower Spam Claims Pose Challenge for Twitter

What does Jack know? Twitter’s former security chief sent a whistle-blower complaint to the S.E.C. and other agencies contending that the company’s spam- and hacker-fighting efforts were reckless and inadequate. The complaint, which was obtained by The New York Times, could strengthen Elon Musk’s hand in his efforts to walk away from his $44 billion […]

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The New Tax Bill Doesn’t Touch the Wealthy

Early in my deal-making career, a Wall Street veteran counseled me to “never let the perfect be the enemy of the good.” The Senate majority leader, Chuck Schumer, may have had similar advice in his head as he relentlessly corralled his 49 Democratic colleagues into passing the Inflation Reduction Act, which emerged as not just […]

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The Tax Loophole That Won’t Die

Andrew Ross Sorkin contributed reporting. The Daily is made by Lisa Tobin, Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Dave Shaw, Sydney Harper, Robert Jimison, Mike […]

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How Private Equity Lobbying Watered Down the Corporate Minimum Tax

WASHINGTON — An hour after Democrats released the text of their climate and tax legislation, Washington lobbyists for the private equity industry sprang into action. With a final Senate vote nearing on the major package on Sunday, a late addition would have subjected companies controlled by private investment funds to a new 15 percent corporate […]

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How a New Corporate Minimum Tax Could Reshape Business Investments

WASHINGTON — At the center of the new climate and tax package that Democrats appear to be on the verge of passing is one of the most significant changes to America’s tax code in decades: a new corporate minimum tax that could reshape how the federal government collects revenue and alter how the nation’s most […]

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Progressives Embrace Climate and Tax Deal, Despite Disappointments

WASHINGTON — With enactment of a major piece of Democrats’ domestic agenda in sight within days, progressives in Congress are rallying, grudgingly but decisively, around a climate, health and tax package that is a shadow of the ambitious cradle-to-grave social policy overhaul they once demanded. Bowing to the realities of their party’s thin majorities in […]

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A Clean Energy Future is in the Hands of Congress

Turn on the evening news and it immediately becomes clear that Americans are experiencing the effects of climate change. Extreme heat and drought are affecting tens of millions of people, as floods and wildfires ravage communities from Appalachia to California. In the coming days, Congress has the opportunity to face down the climate crisis while […]

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Pitching G.O.P. on Gay Marriage Bill, Tammy Baldwin Leaves Nothing to Chance

WASHINGTON — Senator Tammy Baldwin, the soft-spoken liberal Democrat of Wisconsin, was on a plane home from Washington last month when she got word that Senator Ron Johnson, her home-state colleague and a stridently hard-right Republican, had said publicly that he would not oppose a bill protecting same-sex marriage rights. Seizing a rare moment in […]

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Pitching G.O.P. on Gay Marriage Bill, Tammy Baldwin Leaves Nothing to Chance

WASHINGTON — Senator Tammy Baldwin, the soft-spoken liberal Democrat of Wisconsin, was on a plane home from Washington last month when she got word that Senator Ron Johnson, her home-state colleague and a stridently hard-right Republican, had said publicly that he would not oppose a bill protecting same-sex marriage rights. Seizing a rare moment in […]

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The Carried Interest Loophole Survives Another Political Battle

WASHINGTON — Once again, carried interest carried the day. The last-minute removal by Senate Democrats of a provision in the climate and tax legislation that would narrow what is widely referred to as the “carried interest loophole” represents the latest win for the private equity and hedge fund industries. For years, those businesses have successfully […]

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Carried Interest Is Back in the Headlines. Why It’s Not Going Away.

For years, Democrats and even some Republicans such as former President Donald J. Trump have called for closing the so-called carried interest loophole that allows wealthy hedge fund managers and private equity executives to pay lower tax rates than entry-level employees. Those efforts have always failed to make a big dent in the loophole — […]

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Sinema Agrees to Climate and Tax Deal, Clearing the Way for Votes

WASHINGTON — 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 […]

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Private Equity Doesn’t Want You to Read This

This column is about the excesses of the private equity investment industry. It delves into the minutiae of the tax code, corporate structure and certain abstruse practices of financial engineering. There will be jargon: carried interest, leveraged buyout, joint liability. I am aware that none of this is anyone’s favorite thing to be discussing on […]

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Private Equity Doesn’t Want You to Read This

This column is about the excesses of the private equity investment industry. It delves into the minutiae of the tax code, corporate structure and certain abstruse practices of financial engineering. There will be jargon: carried interest, leveraged buyout, joint liability. I am aware that none of this is anyone’s favorite thing to be discussing on […]

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Private Equity Doesn’t Want You to Read This

This column is about the excesses of the private equity investment industry. It delves into the minutiae of the tax code, corporate structure and certain abstruse practices of financial engineering. There will be jargon: carried interest, leveraged buyout, joint liability. I am aware that none of this is anyone’s favorite thing to be discussing on […]

Read More

With Climate Deal in Sight, Democrats Turn Hopes on Sinema

WASHINGTON — As Senator Kyrsten Sinema, Democrat of Arizona, took her turn presiding over the Senate floor on Tuesday, Senator Joe Manchin III of West Virginia, a fellow Democrat, got down on one knee beside her at the dais, leaning in intently to speak to her in hushed tones. Ms. Sinema, an inscrutable lawmaker who […]

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With Climate Deal in Sight, Democrats Turn Hopes on Sinema

WASHINGTON — As Senator Kyrsten Sinema, Democrat of Arizona, took her turn presiding over the Senate floor on Tuesday, Senator Joe Manchin III of West Virginia, a fellow Democrat, got down on one knee beside her at the dais, leaning in intently to speak to her in hushed tones. Ms. Sinema, an inscrutable lawmaker who […]

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Democrats’ Climate Deal Isn’t Done Yet. Here Are the Remaining Hurdles.

“We have a good, balanced piece of legislation. It’s taken me eight months to get here,” Mr. Manchin said. “The process is what it is. You respect the process, and we’ll see what happens.” In a notice reviewed by The New York Times, Democratic floor staff offered some advance advice for senators and their aides […]

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After Clash, Manchin and Schumer Rushed to Reset Climate and Tax Deal

WASHINGTON — Senator Joe Manchin III of West Virginia, who had been the chief Democratic holdout on a climate, energy and tax increase package that is the backbone of his party’s agenda, said on Thursday that he had relented and agreed to sign on after concluding that it would help combat inflation, as top Democrats […]

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