The Ways and Means proposal: A tax policy update has been saved
The Ways and Means proposal: A tax policy update
Part of the Tax News & Views podcast series
From proposed changes in the corporate tax rates to increases for individual capital gains, the recently released package of revenue raisers from the Ways and Means Committee contains many things that were expected—as well as some surprises. Deloitte’s Tax Policy Leader Jon Traub is back in this episode to share his insights on the proposed legislation, the possible compromises ahead, effective dates, and the looming prospect of a big showdown over raising the debt limit.
Tax podcast: The Ways and Means proposal: A tax policy update
September 16, 2021
The House Ways and Means Committee has released its proposed plan for raising revenue to support the ambitious spending bills working their way through Congress. Host Carrie Falkenhayn is joined by Deloitte Tax Policy Leader Jon Traub, who digs into the proposed legislation, the uncertainty surrounding the next moves by Congressional leaders, and why we should focus on the fast-approaching end to the government’s fiscal year.
We think it more likely to see a long-term slog as the disagreements continue between the moderates and progressives over how big the reconciliation bill should be. We saw over the weekend that West Virginia Senator Joe Manchin reaffirmed his concern about the overall size of the package and so we think it will take more than a few days to resolve and believe reconciliations are likely to drag through most of the rest of 2021.
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