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FEATURING CARTER DOUGHERTY - The United States Senate on Saturday passed the Inflation Reduction Act, a sprawling bill on climate, healthcare, pharmaceuticals, and taxes. Extracting a steep price for her support of the bill, Arizona’s Democratic senator, Kyrsten Sinema demanded that a provision cutting back the carried interest loophole be removed.

The loophole has enriched private equity executives for years and survived multiple legislative attempts to thwart it, thanks to intense lobbying by the financial industry.

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