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Democratic Senator-'Sinema Not At Caucus Meeting On Inflation Reduction Act'

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markets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed IncomeForeign ExchangePolitical Market News

Senator Debbie Stabenow (D-MI) has stated that her fellow Democrat Kyrsten Sinema (D-AZ) was not in attendance at the meeting this morning of the Senate Democratic caucus to discuss the slimmed-down reconciliation bill - dubbed the Inflation Reduction Act - agreed to last night by majority leader Chuck Schumer (D-NY) and centrist Joe Manchin (D-WV). Stabenow said that Sinema “wasn’t joining us at this point” but added that the Arizona senator “cares deeply about the climate crisis. I know she cares deeply about bringing jobs home.”

  • Sinema's non-attendance could cause some concerns among Democrats, given her vote will be crucial in getting the bill through a 50-50 senate. Sinema has previously gone on record arguing against the minimum corporate tax rate provision included in the bill.
  • Senator Chris Van Hollen (D-MD) states that he believes it could take two weeks to finish reconciliation due to the process of the Senate parliamentarian in enforcing the 'Byrd rule'.
  • Could prove difficult to get the bill passed in this time frame, with the Senate set to enter summer recess on August 8. Positive COVID test for majority whip Dick Durbin (the individual tasked with counting votes) could make the task even more difficult.
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Senator Debbie Stabenow (D-MI) has stated that her fellow Democrat Kyrsten Sinema (D-AZ) was not in attendance at the meeting this morning of the Senate Democratic caucus to discuss the slimmed-down reconciliation bill - dubbed the Inflation Reduction Act - agreed to last night by majority leader Chuck Schumer (D-NY) and centrist Joe Manchin (D-WV). Stabenow said that Sinema “wasn’t joining us at this point” but added that the Arizona senator “cares deeply about the climate crisis. I know she cares deeply about bringing jobs home.”

  • Sinema's non-attendance could cause some concerns among Democrats, given her vote will be crucial in getting the bill through a 50-50 senate. Sinema has previously gone on record arguing against the minimum corporate tax rate provision included in the bill.
  • Senator Chris Van Hollen (D-MD) states that he believes it could take two weeks to finish reconciliation due to the process of the Senate parliamentarian in enforcing the 'Byrd rule'.
  • Could prove difficult to get the bill passed in this time frame, with the Senate set to enter summer recess on August 8. Positive COVID test for majority whip Dick Durbin (the individual tasked with counting votes) could make the task even more difficult.