HILL TAX BRIEFING: Sinema Seeks to Keep Carried-Interest Break

Sen. Kyrsten Sinema (D-Ariz.) is seeking to remove from the reconciliation bill a provision that would narrow the carried-interest tax break for investment managers, one person said who asked to be unnamed because the discussions are private.

She is also looking to narrow the 15% domestic minimum tax on financial profits, known as the “book tax,” people familiar with the discussions said.

Changing the tax provisions risks irking Sen. Joe Manchin (D-W.Va.), who negotiated the package with Senate Majority Leader Chuck Schumer (D-N.Y.)

Manchin has said he is “adamant” that the carried-interest change remain in the bill.

One way ...