JCT descriptions, estimated budgetary effects of Ways and Means proposals

The legislation is expected to be marked up in committee on Tuesday, September 14, 2021.

Ways and Means proposals

The discussion below ultimately resulted in action by the Ways and Means Committee which on September 15, 2021, approved a tax legislative package. Read a KPMG report [PDF 2.3 MB] (203 pages) that provides a summary and analysis of the tax proposals: “Build Back Better Act” tax proposals, as approved by Ways and Means (September 16, 2021)


In connection with the release of additional legislative text last night by House Ways and Means Committee Chairman Richard E. Neal (D-MA)—read TaxNewsFlash—today the Joint Committee on Taxation (JCT) released the following documents:

  • Description of Subtitle F – Infrastructure Financing And Community Development:  Budget Reconciliation Legislative Recommendations: JCX-37-21
  • Description of Subtitle G – Green Energy:  Budget Reconciliation Legislative Recommendations: JCX-38-21
  • Description of Subtitle H – Social Safety Net:  Budget Reconciliation Legislative Recommendations: JCX-39-21
  • Description of Subtitle J – Drug Pricing:  Budget Reconciliation Legislative Recommendations: JCX-40-21
  • Estimated Budgetary Effects Of The Revenue Provisions Of Subtitles F, G, H, And J Of The Budget Reconciliation Legislative Recommendations Relating To Infrastructure Financing, Green Energy, Social Safety Net, And Drug Pricing: Read JCX-41-21

The legislation is expected to be marked up in committee on Tuesday, September 14, 2021.

Chairman Neal has not yet released the revenue-raising proposals that Ways and Means is expected to consider after the tax incentives and credits. 

 

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