September 13, 2021
FIRST IMPRESSIONS | Ways & Means unveils Build Back Better Act tax increase proposals
House Ways & Means Committee Chairman Richard Neal (D-MA) September 13 released over $2 trillion in net tax increase proposals to partially fund the Build Back Better Act reconciliation bill. The reconciliation bill is expected to evolve during the September 14-15 markup and prior to floor consideration, then must be reconciled with a tax package expected to emerge from the Senate. Thus, these proposals should be considered as a key part of a process but not necessarily a final product that will be enacted into law.
A Tax Alert, attached below, provides additional details on the proposals.
Build Back Better Act