By Kate Ackley and Chris Cioffi | March 7, 2024 5:31AM ET
Sen. Kyrsten Sinema’s decision not to seek re-election will leave the business community with one less potential bipartisan deal-maker in the next Congress, especially on tax and economic issues, lobbyists said.
The Arizona Independent has played a pivotal role in getting legislation through Capitol Hill during her one term in the Senate and has sided with some business interests in helping block changes to the tax code, including an attempt to kill a tax break enjoyed by investment managers known as carried interest. With a major tax bill expected next year, Sinema’s exit adds deeper uncertainty into that debate.
Combined with the departure of fellow deal-makers Sen. Joe Manchin (D-W.Va.) and Sen. Mitt Romney (R-Utah), as well as longtime Senate GOP Leader Mitch McConnell (Ky.) from his party’s leadership, the chamber in the next Congress may require an entirely different approach from outside interests.
“With the retirements of Senators Manchin, Romney and Sinema, the Senate is losing a core group that was willing to work across the aisle and deliver historic legislative accomplishments in the most divided Congress in a generation,” said Jonathan Kott, a former senior aide to Manchin who is now a partner at the lobbying firm Capitol Counsel. “There will be a huge void for bipartisan dealmakers in 2025.”
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