Sen. Kyrsten Sinema (D-Ariz.) wants Democrats to drop a provision tightening a tax loophole associated with hedge fund managers and private equity executives from their $740 billion package enacting President Joe Biden s climate, health care and tax plans, according to reports from Politico and Axios .

Sinemas apparent desire to nix the provision which raises just 2% of the proposals total revenue and does not even fully close the loophole does not immediately endanger Democrats hope of passing the legislation out of the Senate in the coming days. But it shows how the moderate first-term senator is willing to protect some of the countrys wealthiest Americans from even small tax hikes.

Sinemas office would not directly confirm nor deny the reports, and said the senator is still reviewing the legislation and awaiting rulings from the Senate parliamentarian on its contents. Politico and Axios also reported Sinema wants additional funding for drought resiliency a key priority for Arizona, where water supply remains a top issue.

The carried interest loophole is infamous . It allows hedge fund managers and venture capitalists to have their income taxed at the 15% capital gains rate instead of at much higher income tax rates, often saving them millions of dollars a year. Wall Street has worked ferociously to defend the loophole over the course of the past decade, ensuring its survival despite pledges from Presidents Barack Obama and Donald Trump to eliminate it.