It’s Not a Done Deal Yet

Playbook offers two bits of caution around the surprise tax and climate deal announced by Sens. Chuck Schumer (D-NY) and Joe Manchin (D-WV) yesterday:

“Though Democrats on the Hill and at the White House are celebrating, there’s still the Sen. Kyrsten Sinema-sized hurdle they need to clear. She hasn’t publicly signed off just yet, and the bill includes some provisions she has previously told leadership were no-gos for her, like taxing carried interest.”

“How will moderate House Dems of the Josh Gottheimer variety react to the exclusion of the SALT deductions they sought to restore, which were make-or-break for them in last year’s talks?”