John Traub and Victoria Glover, of Deloitte Tax LLP, have made available for download their article, “Still no clarity on details, timing of slimmed-down Build Back Better package,” published in Deloitte Tax News & Views. The article begins as follows:
West Virginia Democratic Sen. Joe Manchin reiterated this week that he will not support an expansive Build Back Better package and that any legislation Congress eventually sends to President Biden must be narrower and more focused than the measure that cleared the House last November. But even though the White House and congressional Democratic leaders have acknowledged that the tax-and-spending bill will have to be substantially modified to address Manchin’s concerns, precise details of just what a revised proposal might look like and when it might come to the floor in either chamber remain elusive.
Here are some observations from Deloitte Tax LLP’s Tax Policy Group leaders on the status of Build Back Better negotiations, the other significant priorities facing Congress that may be competing with that legislation for floor time, and the prospects for getting a bill of some kind to President Biden’s desk this year.
Posted by Isabella King, Associate Editor, Wealth Strategies Journal.