Biden Administration Tax Legislation

At the outset of his administration, President Biden proposed major tax changes as part of his policy initiatives. With narrow control of the 117th Congress, Democrats enacted some significant tax law changes as part of the “Inflation Reduction Act” in August 2022. Those changes, however, were much smaller in size and scope than those initially proposed by the President. With a Republican-controlled House and a Democratic-controlled Senate in the new 118th Congress that begins in January of 2023, what might happen next?

Stay informed about potentially significant changes to the U.S. tax landscape. You'll find resources on this page about proposed and enacted legislation during the Biden administration that can help you follow the direction of tax developments in Washington.


 

Congressional Elections & Tax Policy

Preliminary observations: Possible tax policy implcations of 2022 elections

Preliminary observations: Possible tax policy implcations of 2022 elections

Tax Extenders Strike Out

Podcast debates why Congress couldn't make year-end deal on tax extenders

Podcast debates why Congress couldn't make year-end deal on tax extenders

About the Inflation Reduction Act

KPMG insights and analysis on the tax law provisions of "IRA," enacted in August 2022

KPMG insights and analysis on the tax law provisions of "IRA," enacted in August 2022

TaxNewsFlash – Biden Tax Agenda

KPMG reports on prospects for tax legislation during the Biden administration

KPMG reports on prospects for tax legislation during the Biden administration

Podcasts & webcasts

KPMG TaxWatch and other related webcasts

Upcoming and on-demand events

KPMG TaxRadio podcasts

Reports & articles

Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act

Infrastructure Investment and Jobs Act

Build Back Better Act proposals

More insights on Biden administration tax proposals

Green Book: Observations & Insights

On May 28, 2021, the Biden Administration transmitted to Congress its budget recommendations for fiscal year 2022, and the U.S. Treasury Department released the “Green Book”—a 114-page explanation of the tax proposals in the budget. The Green Book outlines the Administration’s proposals in greater detail than seen before, including information on effective dates, revenue estimates, and design choices.