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Biden Administration Proposed Legislation Income Taxes

DLA Piper

House Committee on Ways and Means Proposed Tax Bill: Key Takeaways

DLA Piper on

On May 9, 2025, House Committee on Ways and Means Chairman Jason Smith (R-MO) released a proposed 28-page tax bill, which is scheduled for markup by the House Committee on Ways and Means on May 13, 2025. Below, we highlight...more

Brownstein Hyatt Farber Schreck

House Republicans Introduce Expansive Tax-Reform Package: The American Families and Jobs Act

House Ways and Means Committee Chairman Jason Smith (R-MO) unveiled committee Republicans’ economic-growth package on June 9, introducing three individual bills that encompass tax provisions relevant to a broad cross-section...more

McDermott Will & Schulte

The Inflation Reduction Act: Overview of New Corporate Minimum Tax

On August 7, 2022, the US Senate passed the Inflation Reduction Act of 2022 (the Act), a budget reconciliation bill recently introduced by Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV). The bill...more

Proskauer - Tax Talks

The Biden Administration Re-Proposes to Tax Carried Interests as Ordinary Income

Proskauer - Tax Talks on

On March 28, 2022, the Biden Administration proposed to tax “profits” or “carried” interests as ordinary income and impose self-employment tax on income and gains from these interests for certain partners in investment...more

Proskauer - Tax Talks

The Biden Administration Proposes Changes to the U.S. International Tax Rules

Proskauer - Tax Talks on

Introduction and Summary - On March 28, 2022, the Biden Administration proposed changes to the U.S. international tax rules. In short, the Biden Administration proposed to: Enact a 15% minimum “undertaxed profits...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, March 8, 2022

Legislative Lowdown - BBBA Comeback? President Biden’s first State of the Union address appears to have reignited discussions around a revised version of the Build Back Better Act (BBBA), though the president did not...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, January 11, 2022

Tax Tidbit - Budget Reconciliation: By the Numbers. Since 1980, Congress has passed 26 budget reconciliation bills, 22 of which have become law. During 11 of those 41 years, Congress did not pass any budget reconciliation...more

Proskauer - Tax Talks

Senator Manchin Announces That He Will Not Support the Build Back Better Act – Where Things Stand Now

Proskauer - Tax Talks on

Yesterday, on December 19, 2021, Senator Joe Manchin (D., W.Va.) said that he opposes the Build Back Better Act, which effectively prevents its passage.  While there are no immediate prospects for the Build Back Better Act to...more

Cadwalader, Wickersham & Taft LLP

Build Back Better Act: Comparison of Senate Finance Committee and House Tax Provisions

Here's a summary of the new tax provisions in the Build Back Better Act proposed by the Senate Finance Committee, as compared to the version that the House passed on November 19, 2021....more

Miles & Stockbridge P.C.

Tax Alert: The Implications of the Build Back Better Act

Miles & Stockbridge P.C. on

Updates and negotiations for President Biden’s tax plan continue to filter through Congress. The House Ways and Means Committee recently passed the Build Back Better Act (the “Act”), and it is now on its way for the Senate’s...more

Foster Garvey PC

The Calm Before the Storm – The Anticipation of the Current Administration’s Federal Tax Legislation Is Creating Anxiety Among...

Foster Garvey PC on

As many readers have noticed, I have been silent for the past few months. That is partly due to exhaustion from reporting on the flurry of tax events that have occurred since the COVID-19 pandemic commenced in 2020 and also...more

Cadwalader, Wickersham & Taft LLP

A Look at the House Ways and Means Committee’s Tax Proposals

I. Introduction - On September 15, 2021, the House Ways and Means Committee approved tax provisions for proposed inclusion in the Build Back Better Act (the BBBA). If enacted in their current form, the proposals would,...more

Verrill

House Democrats Propose Estate and Gift Tax Law Changes: Important Estate Planning Implications

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What you need to know: On September 13, 2021, the House Ways and Means Committee released its proposed tax plan to fund President Biden’s $3.5 trillion “Build Back Better” social and economic spending package. If enacted as...more

Goulston & Storrs PC

Big Potential Tax Changes on the Horizon for Clients

Goulston & Storrs PC on

The U.S. House Ways and Means Committee released proposed budget reconciliation legislation on September 13, 2021. The bill still must complete many steps in the legislative process – including passage by the full House of...more

Miles & Stockbridge P.C.

Tax Alert: The Implications of House Democrats’ Tax Proposal

Big tax changes are on the way! President Biden, the House, and the Senate all seem to have their own agenda, but the proposal introduced by the House Ways and Means Committee (the “Proposal”) is a good starting point for...more

Polsinelli

The House Ways and Means Committee Finally Provides Draft Legislative Language for the Tax Changes First Set Forth in President...

Polsinelli on

In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. On May 28, 2021, the United State Department of Treasury issued a report entitled “General Explanation of...more

Bodman

Pending Tax Changes: House Ways and Means Committee Tax Proposals

Bodman on

On September 13, 2021, the U.S. House of Representatives Ways and Means Committee released draft budget reconciliation legislation proposing a number of significant tax changes for businesses and for individuals....more

Wyrick Robbins Yates & Ponton LLP

Are My Taxes Going Up? Seven Proposals to Watch from the House Ways and Means Committee’s Draft Tax Legislation

Congress has other plans for tax practitioners this fall, starting with the House Ways and Means Committee’s initial draft of major tax legislation.  The draft legislation proposes far-reaching changes to existing tax laws,...more

Brownstein Hyatt Farber Schreck

Ways and Means Budget Reconciliation Bill: Summary and Analysis of Paid Leave and Retirement Provisions

On Tuesday, Sept. 7, House Ways and Means Committee Chair Richard Neal (D-MA) released part of the committee’s portion of the Build Back Better bill—the expected $3.5 trillion budget reconciliation measure to advance the more...more

Bilzin Sumberg

The Draft of the International Tax Overhaul: Where is Captain America?

Bilzin Sumberg on

On August 25, 2021, Senate Finance Committee Chair Ron Wyden, D-Ore., and fellow Senate Finance Committee Democrats Sherrod Brown of Ohio and Mark R. Warner of Virginia released draft legislation, and a related summary,...more

BakerHostetler

[Podcast] 32nd Annual Legislative Seminar Series: Congresswoman Stephanie Murphy, D-Fla.

BakerHostetler on

Former Congressman Mike Ferguson, leader of BakerHostetler’s Federal Policy team, and former Congressman Heath Shuler, a Senior Advisor on the Federal Policy team host bipartisan leaders from the House and Senate to discuss...more

Holland & Knight LLP

Large Corporations and Wealthy Taxpayers Beware: The Taxman is Coming

Holland & Knight LLP on

Internal Revenue Service (IRS) Commissioner Chuck Rettig on April 13, 2021, told a U.S. Senate panel that the tax gap in the U.S. may total $1 trillion per year. In his view, the increase from prior estimates is due, in part,...more

Partridge Snow & Hahn LLP

President Biden's Proposed Infrastructure Plan Includes Business Tax Provisions to Incentivize Infrastructure Investments and Fund...

On Wednesday, March 31st, President Biden released a summary of his administration’s proposed The American Jobs Plan (the “TAJP”). TAJP is a $2 trillion proposal focusing on public domestic infrastructure investments. To help...more

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