KPMG report: Ways and Means tax proposals relating to infrastructure, energy, housing, retirement, and social safety net
Incentives and benefits—for infrastructure, green energy investment, housing, and for various social programs—are the subject of this report.
Relating to infrastructure, energy, housing, retirement, and social safety net
|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)|
House Ways and Means Committee Chairman Richard E. Neal (D-MA) released legislative tax proposals on Friday, September 10. Retirement tax savings proposals also were approved by the Ways and Means Committee on September 9, 2021. KPMG LLP has prepared a report on these proposals.
These proposals are part of a larger legislative effort by the Ways and Means Committee to contribute to the Build Back Better Act moving through the House. This report does not include the tax increase proposals released by the Chairman on Monday, September 13, which will be addressed in a later KPMG summary and analysis.
The proposals summarized in this report are primarily tax incentives and tax benefits for various taxpayers. Those incentives and benefits relate to green energy investment, housing, infrastructure, and various social programs.
Read KPMG report: Ways and Means tax proposals relating to infrastructure, energy, housing, retirement, and social safety net [PDF 1.2 MB]
The Ways and Means Committee is scheduled to begin mark up of tax proposals today, September 14, with that consideration continuing tomorrow. The current schedule anticipates that the Ways and Means Committee will conclude its markup of all portions of the Build Back Better Act under its jurisdiction by the end of the day of September 15, 2021.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.