The House Ways and Means Committee Finally Provides Draft Legislative Language for the Tax Changes First Set Forth in President Biden’s American Jobs and American Families Plan

In April 2021, President Biden announced the “American Families Plan,” which included some significant tax law changes. On May 28, 2021, the United State Department of Treasury issued a report entitled “General Explanation of the Administration’s Fiscal 2022 Revenue Proposals” (commonly referred to as the “Green Book”), which was one of the first times that additional details on President Biden’s tax proposal were published.

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