a tweaked version of the inflation reduction act the schumermanchin deal that includes some of president joe biden’s climate agenda is moving ahead a bigger tax on carried interest hitting people who run privateequity funds is reportedly out to be replaced by a levy on share repurchases by corporations the buyback tax would pay for things like electric vehicle tax credits that will cost the federal government money in the future it has the potential unintended consequence of reducing the amount of shares companies repurchase as economists like to say whatever you tax you get less of