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Schumer Says Tax, Drugs Bill on Track, Drought Funds Unresolved

Aug. 5, 2022, 6:27 PM

Majority Leader Chuck Schumer said the Senate remains on track to begin votes on a landmark tax, climate and drugs bill Saturday despite lingering questions about how the Senate parliamentarian will rule and unresolved talks on drought relief money.

Schumer said that while his last-minute deal with holdout Senator Kyrsten Sinema meant dropping a plan to narrow a tax break for private equity, Democrats are fully behind a new $74 billion, 1% excise tax on stock buybacks that was added to the bill.

“I hate stock buybacks. I think they are one of the most self-serving things that corporate America ...