Tax policy update: How the Build Back Better Act affects individuals
RECORDED WEBCAST |
Authored by RSM US LLP
The Senate Finance Committee’s release this past weekend of its draft version of the Build Back Better Act represents the next procedural step in the measure’s path to (potential) enactment. Though hope remains among some key Democratic Senators for a full Senate vote by the end of this year, it looks less likely given the enormity of the task. Within this context, there are significant proposals in the House-passed version of Build Back Better (which retain their current form in the draft measure currently awaiting deliberation within the Senate) that would significantly impact high-income individuals.
Watch the recording of the webcast where our policy and national tax teams took a deeper dive into the proposals with a focus on how business owners, family offices and high-income individuals can prepare.
During this session our presenters discussed:
- An update of where tax legislation and provisions affecting individuals currently stand on Capitol Hill
- A breakdown of House-approved provisions affecting individuals
- Insights on potential modifications within the Senate, including possible effective dates and retroactivity concerns
- Potential obstacles and challenges to final passage of the bill
- The path forward and our expectations for year-end
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This article was written by RSM US LLP and originally appeared on 2021-12-16.
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