Budget plan and Green Book released for FY24—what’s inside?

Part of the Tax News & Views podcast series

President Biden’s budget plan for the 2024 fiscal year proposes both familiar and new tax policies targeted at large corporations, high earners, and more. Host Carrie Falkenhayn sits down with Deloitte tax leaders to discuss the details and potential tax implications leaders need to understand and prepare for.

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Budget plan and Green Book released for FY24—what’s inside?

While President Biden’s FY24 budget plan contains many well-known ideas, including increases for corporate tax and high earners, there are some small but important changes too, particularly for multinational businesses, and new energy proposals associated with cryptocurrency mining. In this latest episode, host Carrie Falkenhayn sits down with Washington National Tax leader Jonathan Traub and Tax Policy group leader Anna Taylor to explore the proposal, its tax implications, the reception by Congress, and its potential for approval:.

One area of the budget proposal I can see being agreed upon is raising the excise tax on stock buybacks from 1% to 4% but only in exchange for something else

—Jonathan Traub

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