Kyrsten Sinema—Still Completely Terrible

You’ve probably seen the news that Kyrsten Sinema has signed on to the Schumer/Manchin climate and inflation deal. She did so in exchange for nixing the carried interest loophole fix, an almost comically mercenary demand — a payoff to working families in the venture capital and private equity businesses. She also ramped back the corporate minimum tax with some depreciation tweaks. On the plus side, they seem to have made up the revenue and added a bit more with a small surtax on stock buybacks. A modest additional amount of spending goes to drought mitigation, which is of course a big deal for the Southwest.