The $3.5 trillion human infrastructure bill (the “Build Back Better Act”) is progressing through Congress. The House Ways and Means Committee has approved its sections of the bill that mostly address social issues and plans to pay for them with tax increases on the wealthy and corporations. Democratic committee members dispatched some 66 amendments offered by Republicans, including an amendment that would have eliminated the Democrats’ proposal to increase the corporate tax rate to 26.5%. The marked-up bill next goes to the Budget Committee, which will assemble all of the markups into one piece of legislation before it’s brought to the House floor for a vote. Call or visit our website for more information! www.mjscpa.com/
