House Democrats backed down after threatening to block a tax plan over local deductions.
The tax and energy bill passed Sunday after a year and a half of rocky negotiations.
Lawmakers will also alter a 15% minimum tax on corporations and add a new 1% excise tax on stock buybacks.
Kyrsten Sinema is a pivotal vote in the Senate on the Democrats' economic package.
The corporate tax would bring in about $313 billion in additional revenue over a decade,
Investment fund managers are the prime targets of a new tax proposal by Senate Democrats.
Sen. Joe Manchin's reversal resurrects key parts of the Biden administration's legislative agenda.
It would amount to the biggest tax hike in years.
The bill would require that taxpayers worth more than $100 million pay a minimum of 20% on their capital gains.
The U.S. Senate's arcane budget rules threaten Democrats' plans to increase taxes on the wealthy.
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