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Uncertain Tax Positions Insights

The House-Approved Build Back Better Act: Business & International Tax Issues

On November 19th, the House approved the Build Back Better Act (BBBA), H.R. 5376, by a vote of 220-213 on party lines. The $1.7 trillion bill includes a package of targeted individual tax relief, clean energy incentives, and increased spending on healthcare, education, childcare, and other programs. The legislation is currently being considered in the Senate, where changes are expected to be made to many of the bill’s provisions. In […]

December 15, 2021

Washington Tax Insight November 2021

Politics and Congressional Activity Congressional work on legislation designed to enact the agenda laid out by President Biden in his State of the Union address and his budget plan for Fiscal Year 2022 has accelerated this fall with major developments related to the Build Back Better legislation, which is progressing under the budget reconciliation process.   After enacting additional pandemic-relief legislation in early 2021, Congress moved on to approve infrastructure legislation […]

November 12, 2021

Partnership Tax Reform: The Wyden Proposals and Budget Reconciliation Legislation

Congress is currently working on legislation designed to enact the agenda laid out by President Biden in his State of the Union address and the budget for Fiscal Year 2022, which was forwarded to Congress in the spring.  After enacting pandemic-relief legislation in early 2021, Congress then moved on to infrastructure legislation, which was approved in the Senate in August and is awaiting final action in the House. The major […]

November 4, 2021