Kyrsten Sinema agrees to compromise on inflation law

Sen. Kyrsten Sinema on Thursday night agreed to join her fellow Democrats in pushing the watered-down anti-inflation bill approved by another reluctant Democrat, Sen. Joe Manchin, last week.

The Arizona Democrat’s approval of the $739 billion health, climate and deficit-reduction package came after she was courted by lawmakers on both sides of the aisle before the Senate summer recess next week.

“We have agreed to remove the carried-interest tax regime, protect advanced manufacturing and promote our clean energy in Senate budget-voting legislation,” Sinema said in a statement.

“Subject to parliamentarian review, I will proceed.”

Senate Majority Leader Chuck Schumer, who negotiated the compromise with Manchin, a moderate West Virginia, said in a statement that the new “agreement retains the key components” of the spending package.

If passed, the measure would “cut prescription drug costs, tackle climate change, close tax loopholes exploited by big corporations and the wealthy, and reduce the deficit by $300 billion,” the New York chairman said.

The final version of the bill should be presented on Saturday.