Here Are The Winners And Losers In The 'Inflation Reduction Act'
As Democrats pat themselves on the back after the Senate finally passed their massive tax, climate, and healthcare bill - the "Inflation Reduction Act" which Senate Majority Leader Chuck Schumer called "one of the most significant pieces of legislation passed in a decade," Bloomberg has compiled a list of winners and losers . WINNERS: The Wealthy Alec Monopoly Not only did none of the billions in tax increases Democrats threatened high-earners with last year make it into the final version of the bill, their plans to 'tax the 1%' turned out to be nothing more than a big virtue signal. Private equity fund managers As we noted on Friday , the landmark bill only passed after AZ Sen. Kyrsten Sinema insisted on keeping the carried-interest loophole that allows investment managers (like her former bosses ) to shield the majority of their income from higher taxes. The private equity industry was able to gain an additional win shortly before the final pass