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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?

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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.

KPMG TaxWatch and other related webcasts
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March 22, 2023 | CAMT Through Financial Accounting Eyes

This webcast describes the financial accounting issues that are directly relevant to understanding potential implications of the corporate alternative minimum tax for business taxpayers.

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Corporate Alternative Minimum Tax: What Treasury’s Guidance Tells Us

This webcast provides an overview and insights on guidance in Notice 2023-7 on the corporate alternative minimum tax provisions in the Inflation Reduction Act of 2022.

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The New Stock Buyback Tax – Observations and Uncertainties

During this webcast, professionals from the Washington National Tax office and M&A Tax practice discuss the new stock buyback tax and associated planning considerations.

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Election Day 2022: Implications for Federal and State Tax Changes

This TaxWatch webcast provides an overview of the November 8, 2022, federal and state elections and insights on where changes in federal state tax legislation may be in the offing.

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November 3, 2022 | Accounting Considerations of the IRA and CHIPS Acts

This TaxWatch webcast discusses the accounting consequences that may arise from the application of the Inflation Reduction Act and CHIPS Act, now officially law.

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October 13, 2022 | IRA Energy Tax Credits: Opportunities for Exempt Organizations and State/Local Governments

This webcast introduces the various credits and other clean energy investment incentives that may provide needed capital for hospitals, colleges, and other exempt organizations, as well as for certain state and local government entities.

    KPMG TaxRadio podcasts
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    June 30, 2023 | P2 and Congress: It’s Complicated

    Podcast on legislative negotiations in Washington and how the divided Congress could come to terms with Pillar Two

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    June 23, 2023 | Is It Happening?: House Action on Extenders

    Podcast on the House Ways and Means "extenders" bill—will expired business items, including R&E expensing, interest deductibility, and bonus depreciation, be extended?

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    March 29, 2023 | I Literally CAMT: Dealing with Your International Min Tax Issues

    Podcast: What are the most pressing CAMT international tax issues for which taxpayers need guidance today?

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    March 22, 2023 | Green Book ’24: Tax Policy in a Divided Washington

    Podcast on the Biden Administration tax policy priorities in its FY24 Green Book and why these tax proposals warrant review

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    January 27, 2023 | Farewell Carol: Reflections on Tax Legislation

    Podcast takes a career-span look at how the tax legislative process has changed

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    December 23, 2022 | No Joy in Extendersville: Taxes Strike Out

    Podcast debates possible reasons Congress could not make a year-end deal on tax extenders

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    November 23, 2022 | The Thanksgiving Edition: Post-Election Outlook

    Podcast explores the outlook for a December deal on tax extenders

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    November 8, 2022 | Technology Industry: Tax Incentives in the CHIPS Act and Inflation Reduction Act

    KPMG podcast on the potential business impacts and decisions needed

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    October 25, 2022 | Lame-Duck Dance: Will Extenders Waltz?

    Podcast discusses whether the lame-duck session will include a "tax extenders" bill and how party priorities may affect what's in the bill

      Biden tax agenda developments from KPMG TaxNewsFlash

      Legislative updates from KPMG TaxNewsFlash

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