President Joe Biden recently announced his $1.8 trillion American Families Plan, the third step in his “Build Back Better” policy initiative. This followed an earlier announcement of the president’s proposed $2.3 trillion American Jobs Plan (which would be funded with the “Made in America” tax plan). These plans propose major changes to the federal tax system, including tax increases on both individuals and businesses.
OMA Connections Partner Clark Schaefer Hackett has published this brief summary detailing the administration’s far-reaching tax proposals. Connections Partner Crowe has also published its analysis of Biden’s tax plans. 5/3/2021