August 5, 2022: FY2022 Budget Reconciliation and Infrastructure Update

Policy Resolution Group Reconciliation & Infrastructure Update

August 5, 2022

FY2022 Budget Reconciliation & Infrastructure

After a week of suspense, Senator Kyrsten Sinema (D-AZ) voiced her support for the Manchin-Schumer reconciliation deal titled the Inflation Reduction Act after Majority Leader Schumer agreed to her three changes: eliminating the carried interest provisions, sparing accelerated depreciation from the Book Minimum Tax, and including an additional $5 million in drought resilience spending. The only question that remains now is the actual timing of passage as the legislation still needs to be finalized and the “Byrd Bath” needs to be completed. Adding to the time needed to pass the legislation is the so-called “vote-a-rama,” where Senators will be able to offer an unlimited number of amendments to the legislation that are almost certain to fail. After the legislation is approved by the Senate, it will then go to the House, where swift passage is expected, and then, finally, to President Biden’s desk for signature. Please find below the latest edition of the Policy Resolution Group’s FY2022 Budget Reconciliation & Infrastructure Update.

Included in this newsletter are sections on:
• State of Infrastructure and Reconciliation Negotiations
• Liam Donovan’s Bottom Line
• PRG Podcasts
• Document Library

Read the full update.