Sinema has announced she will support the IRA after a change to its tax provisions.
She changed it so the carried interest loophole will remain in place, but, added a new 1% tax on stock buybacks which will raise significantly more revenue.
Discouraging buybacks is really going to change the dynamics of the stock market, perhaps bringing prices back to be more in line with dividends and revenue.
The optics of this deal seem very good, to me. It's still a small amount of spending and taxes but the signals it sends out to the economy will be strong. Many people will not like those signals, but more people will like them, I think.

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