Speaking on the Sunday morning news talk shows, Sen. Joe Manchin (D-WV) insisted the Inflation Reduction Act does not raise taxes to pay for its programs. Rather, it raises revenue by closing loopholes (and increases funding for IRS enforcement), including the carried interest loophole, which allows wealthy hedge fund managers to claim their shares of investment revenues as capital gains. Closing the loophole would raise their tax rate from 23.8%, to as much as 37%, David Wessel, of the Brookings Institute’s Hutchins Center, told NPR’s Morning Edition.What is your take on the Inflation Reduction Act and closing the carried interest loophole? To comment on this or any other recent issues or news stories, including the House Select committee hearings on the January 6 Capitol insurrection, use the comments box in this column. Or email editors@thehustings.news and write “for the left column” in the subject line. 

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