KPMG: Ways and Means announces first part of budget reconciliation markup, includes qualified plan proposals (September 7, 2021)

KPMG has made available for download their article, “Ways and means announces first part of budget reconciliation markup, includes qualified plan proposals”, which discusses the recent announcement made by House Ways and Means Committee Chairman Richard E. Neal (D-MA) . The abstract is as follows:

House Ways and Means Committee Chairman Richard E. Neal (D-MA) today announced that, this week, Ways and Means will begin to consider legislative proposals pursuant to the instructions in the previously passed budget resolution. 

Specifically, Chairman Neal indicated that, on September 9 and 10, the Committee will mark up proposals relating to universal paid family and medical leave, access to child care, strengthening retirement savings, and trade.

According to a document released by the Joint Committee on Taxation (JCT), the measures being marked up include retirement tax proposals. These proposals generally are scored as losing revenue and include proposals relating to automatic contribution plans and arrangements and to a “saver’s match” refundable income tax credit.

To see the full article, click: “Ways and means announces first part of budget reconciliation markup, includes qualified plan proposals”

Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.

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