The U.S. House of Representatives has released new text of proposed tax legislation as part of this Build Back Better Act (BBBA) legislative effort. This bill is a somewhat slimmed down version of the “Build Back Better” economic plan proposed by the Biden Administration in April 2021. If passed by the House, the bill would move to the Senate, where further changes would be expected.
For recent developments regarding U.S. federal tax legislation developments, visit KPMG TaxNewsFlash – Legislative Updates.
November 11, 2021
This report provides a summary and analysis of the legislative tax proposals in the BBBA legislative package.