evs are getting a boost and clean energy names like first solar are also green on the knows but jay timmons says the final bill will stifle manufacturing investment in this country he joins us in a first on cnbc interview. you guys have been among the most vocal, you and private equity looks like they got their way, you did not, jay is it because of this 15% minimum tax on booked profits? >> yeah, so, sara, that obviously is going to be a drag on the economy i will say this, though. we were very successful in getting immediate expensing, if you will, accelerated depreciation protected from this minimum tax. senator kyrsten sinema from arizona was incredibly important in that effort and she helped us get that done. but the overall bill is going to cost the economy it is very and aptly named i know you're going to be talking to somebody else about that right after this. unfortunately, it's just going to suck money out of the economy that could be used by manufacturers for investment, job creation and most importantly right now wage growth >> so you mentioned it did -- you got that very key de

to american manufacturing and jobs, we talked to the national association of manufacturing ceo jay timmons yesterday, and he said the c.h.i.p.s. act is two steps forward but the inflation reduction act is one step back he's concerned about the higher taxes and says it's going to hurt economic growth and hurt manufacturers' ability to pay higher wages and invest. how do you respond to that >> i could not disagree more and i think he's out of step with most business leaders. the president and i were just within dozens of business leaders. they are for the inflation reduction act because it's the biggest investment in climate that we've ever had as a nation. it's going to bring down prescription drug costs. it's not only going to reduce inflation over the long run, but will increase productivity you know, i think some folks who aren't for it, they believe in an old-fashioned outdated mode of economic theory, which says all you have to do is cut taxes and you'll have prosperity it's not true, it's wrong headed what we believe, and the president's leadership is of course you need competitive ta

in a tweet jay timmons remains concerned.accelerated depreciation was removed but remains skeptical of the final text the president has urged the senate to pass this bill as soon as possible. lawmakers will reconvene saturday to begin vote egg on t the bill final passage if it happens is not expected until monday. >> you probably heard the conversation we had in the 6:00 hour, about here's kyrsten sinema i don't think the constituency base in arizona is huge in the equity land, not nearly the way for example somebody in new york might, where you have someone like senator schumer who effectively has made the decision to throw his own constituents own, because he thinks and knows that there is a loophole here that is just wide open, and everybody knows it so what do you think is driving her decision around carried interest, this new news that she's going to be talking to warner about dealing with carried interest what's happening here? >> yeah, so it's really unclear why this is such a priority, why carried interest is such a p