Sinema has been silent on whether he will support the deal, which needs the votes of all 50 members of the Senate’s Democratic caucus to pass.
The Arizona senator last year voiced his opposition to closing the carried interest tax loophole for asset managers, which Manchin insisted was part of the deal.
Manchin said he did not keep Sinema updated during his talks with Schumer because he did not know if a deal was possible, but said he plans to speak with her Monday afternoon, when the Senate is scheduled to vote on a judicial candidate for the Eastern District Court of Virginia.
“I’m sure we’ll have a chance to talk today because he usually comes [on Monday]and we will talk on the floor,” he told reporters.
Manchin said last week he was “adamant” about keeping a proposal to close the carried interest loophole, which allows money managers to pay a capital gains tax rate on income they earn from profitable investments.
Sinema staff said the senator is considering the legislation.
Manchin said he would likely vote to protect the fiscal reconciliation package from amendments that would significantly change it, arguing that he and Schumer have struck the right balance after months of difficult negotiations.
“I’m just saying, we have a good balanced law. It took me eight months to get here. We listened to everyone along the way,” he said when asked if he would vote on amendments to change the bill, which would raise $739 billion in new revenue and reduce the deficit by more than $300 billion.
Manchin said he kept his conversations with Schumer close to the vest.
“I didn’t have conversations with anyone during the process because I was never sure we would get to a final,” he admitted. “I never thought it could happen. I wasn’t sure.”
He said he “never gave up” on the talks, but added that he “didn’t want to put people in a situation where their expectations and hopes are going to go up and down again.”
“It really unfolded last Monday, Tuesday, Wednesday,” he added.
Manchin pushed back against Republican claims that the bill would force Americans across income brackets to pay slightly more in taxes.
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An analysis by the Joint Committee on Taxation, for example, shows that people earning between $50,000 and $75,000 will see their taxes rise by 0.8 percent in 2023.
Bloomberg reported Sunday that the bill would raise the statute of limitations tax on crude and imported oil products to 16.4 cents per barrel.
“We have to agree to disagree. My Republican colleagues are my friends and I have worked incredibly well with them and will continue to work with them in any way, shape or form,” he said. “But these are things we’ve all talked about in bipartisan groups. How can we start paying off our debt and getting serious about our finances?’
