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August 5, 2022

Sinema Signs Off on Schumer and Manchin’s Mini-reconciliation Deal

News from your government affairs team in Washington, DC – we’ve been here before, and as usual, things are moving quickly. After some late-night concessions, Senator Kyrsten Sinema (D-AZ) has signed off on the mini-reconciliation bill brokered between Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV). She nixed closing the carried interest loophole, but replaced it with a one-percent charge on stock buy-backs; see this Politico article for more details.

While there are still some pieces in play before Saturday, August 6’s scheduled vote-a-rama (it could be 20 hours!), the House has already noticed a vote for August 12. On Friday, August 5, the Senate Parliamentarian was scouring the bill text for any potential Byrd Rule violations, and one of the biggest sticking points is one we have highlighted since the beginning: Medicare prescription drug pricing. 

We’re continuing to monitor the announcements and will you update as we know more and see actual bill text. Don’t hesitate to reach to us with any concerns or questions.