REPORT: Sinema Gives in to Mandatory Corporate Tax

One of the biggest obstacles that Democrats had to work out was the mandatory corporate tax rate.

This had been one of the major sticking points for Senator Sinema (D-AZ), but she has now caved.

Sinema released a statement late Tuesday afternoon expressing her support for the tax in the reconciliation package.

One-Step Away

This was a major concession by Sinema, but it was one we figured she would eventually make.

The pressure she is facing in the party right now is utterly ridiculous, and it won’t stop until she caves completely.

On supporting the new tax, Sinema stated, “This proposal represents a commonsense step toward ensuring that highly profitable corporations — which sometimes can avoid the current corporate tax rate — pay a reasonable minimum tax on their profits, just as everyday Arizonans and Arizona small businesses do.”

If that tax is put in place, it will impact about 200 major companies.

That cost, of course, will get passed right on to the consumer.

For instance, FedEx is one of the top companies on the list, so expect shipping prices to increase considerably if that tax goes into effect.

That, of course, then impacts the cost of the goods being shipped when they are up on the shelf.

There are much better ways to crack down on corporations, such as hammering golden parachute plans and bonuses given to the top executives.

This gets Democrats one step closer to pushing this bill through with the full support of the party.

Biden has been putting significant pressure on party leaders to get their members in line so this legislation is passed before he heads to Europe for the global summit meetings.

With this concession by Sinema, he is now one step closer to making that happen.

Source: The Hill

Share on facebook
Share on twitter
Share on linkedin

Sign Up for Daily Newsletter

By submitting this form, you are consenting to receive breaking news updates emails from: Breaking News Digest, LLC, 299 Monroe Ave., Suite 2406, Roanoke, TX, 76262, US, https://www.Breaking News You can revoke your consent to receive emails at any time by using the link, found at the bottom of every email. 




A week ago, Joe Biden told Americans that prices aren’t actually high.

But the numbers don’t lie.

Inflation is up 14.4% since Biden took office.

And all the president can offer are more lies.

Inflation ⬆️ more than expected.

Overall CPI: +6.4% y/y
Fuel Oil: +27.7%
Electricity: +11.9%
Groceries: +11.3%
Chicken +10.5%
Milk: +11%
Eggs: +70.1%
Bread: +14.9%
Potatoes: +12.4%
Baby Food: +10%
Airline Fares: +25.6%
Real Average Hourly Earnings: -1.8%

Year-over-year real wages have been negative for 22 months - ever since Biden forced through his $1.9 trillion "stimulus."

That's a wages recession for American workers.

Load More...