This Tax Day, here’s are a few reminders about Kyrsten Sinema’s record on defending tax loopholes for Wall Street and helping corporations avoid paying their fair share:
- In 2017, Sinema was one of three Democrats to vote in favor of legislation that would make Trump’s tax cuts for the wealthy permanent.
- In 2021, Sinema intervened to save the carried interest loophole for Wall Street in the Democrats’ budget reconciliation package – an $18 billion per year gift to private equity. Lawmakers wanted to close the loophole in order to pay for priorities related to health care and climate change.
- Sinema repeatedly stood in the way of President Biden’s economic package by protecting tax cuts for millionaires and corporations. At the beginning of these negotiations, Mitch McConnell reportedly reassured allies that Sinema would help kill any provision to raise corporate taxes, even to pre-Trump levels.
- When Democrats wanted to reverse the Trump-GOP 2017 tax scam, Sinema stood in the way. Pres. Biden himself said Sinema’s opposition to raising a “single penny” through increasing the corporate or individual rates was “where it sort of breaks down.”
When these negotiations were happening, Sinema’s critics noted her previous statements when she said making corporations and the rich “pay their fair share” was “common sense.” This must have been before private equity and Wall Street were lining her war chest with millions in campaign cash.
“For years, Sinema has helped protect loopholes for corporations and multi-millionaires at the expense of everyday Arizonans,” said Sacha Haworth, spokesperson for Replace Sinema. “It’s no wonder that her last campaign filing showed nearly $1 million in contributions from Wall Street, but less than half of one percent of her donations came from small-dollar donors. We all know whose side she’s on.”
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