JCT estimated budgetary effects, technical explanation of revenue-raising Ways and Means proposals
The legislation is expected to be marked up in committee on Tuesday, September 14, and Wednesday, September 15, 2021.
Revenue-raising 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 this morning by House Ways and Means Committee Chairman Richard E. Neal (D-MA)—read TaxNewsFlash—this evening the Joint Committee on Taxation (JCT) released the following documents:
- JCX-42-21: Estimated budgetary effects of an amendment in the nature of a substitute to the revenue provisions of subtitles F, G, H, I, and J of the budget reconciliation legislative recommendations relating to infrastructure financing and community development, green energy, social safety net, responsibly fund
- JCX-43-21: Description of the chairman’s amendment in the nature of a substitute to the committee print relating to infrastructure financing (subtitle F), green energy (subtitle G), the social safety net (subtitle H), and prescription drug pricing (subtitle J)
The legislation is expected to be marked up in committee on Tuesday, September 14, and Wednesday, September 15, 2021.
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