Recent activity in the House and Senate has moved Congress and the Biden Administration much closer to their goal of enacting significant tax increases to support substantial and expanded new spending initiatives. The situation in Washington remains extremely dynamic and uncertain; however, the attached piece offers a summary of certain proposals that have attracted extensive attention by legislators and/or the White House. There may be others that arise as the negotiation process progresses and the ideas described here may be significantly modified or put aside, though the odds continue to favor passage of a bill in some form later this year.
Learn more about the legislation through this informative pdf here.
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