On November 19, 2021, the House of Representatives passed their proposed version of President Biden’s Build Back Better Act, which was substantially pared down from the original version. The Senate will now take up the legislation, and without question there will be changes.
Then the Senate-altered version will have to go back to the House and a compromised version negotiated before a final bill can go to the President’s Desk for his signature. Reliable sources indicate a final bill will not be available until towards the end of the year.
Here are some of the tax provisions included in the House version, but there’s no guarantee any of them will make it through to the final legislation.
Not included in this version of the bill are the following provisions that were included in the original:
Remember, there is no certainty any of the above will be reflected in the final legislation.
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