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Updated July 28, 2022 8:52 am ET / Original July 27, 2022 8:11 pm ET
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In a surprise, Senate Democrats reached a deal on a bill late Wednesday that could have a huge effect on private-equity firms.
Sen. Joe Manchin, D-W.Va. is now supporting a bill, the Inflation Reduction Act of 2022, that aims to address climate change, as well as cut the cost of health insurance and prescription drugs. It also plans to close the so-called “carried interest loophole.”