Biden Budget and Treasury Green Book Add Details to Expected Far-Reaching 2021 Tax Changes | BakerHostetler
The White House and Treasury today released the Fiscal Year 2022 Federal Budget and the Treasury Green Book, which include new details regarding the Biden administration’s American Families Plan and proposed 2021 tax changes – including a proposed retroactive capital gains tax increase to 37 percent to the extent household adjusted gross income exceeds $1 million. The tax changes expected to be enacted this year could be substantial and far-reaching and include corporate, individual and capital gains tax rate increases; international tax changes; and estate and gift tax changes.
The Treasury Green Book proposes to raise $2.4 trillion in
…