United States

Tax policy update: Is the end in sight?


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The tax world’s eyes are on the Senate as it considers tax changes as part of the $1.75 trillion budget reconciliation legislation—also known as the Build Back Better Act. The House passed the bill Nov. 19, and now the Senate is expected to make changes. With a jam-packed December agenda in the evenly divided upper chamber, much uncertainty remains.

RSM’s tax policy team during a 32-minute webcast Dec. 1 provided a detailed update on the tax provisions in the House-approved bill and explained what to expect going forward.

Watch the full video below, noting the following times at which the team began to discuss various topics:

4:34 – Next steps in the legislative process ahead of an eventual Senate vote.

6:31 – The timeline for passage and factors influencing potential action in December.

9:53 – A by-the-numbers breakdown of tax provisions in the House-approved bill.

14:11 – Whether tax changes could be enacted retroactively if the bill is passed in 2022.

15:56 – Details of noteworthy tax provisions in the House-approved bill affecting:

  • individuals (16:08)
  • corporations (18:35)
  • partnerships (20:24)
  • transactions (23:19)
  • multinationals (24:11)
  • retirement plans (25:22)

30:14 – What taxpayers should consider doing now to prepare for the tax changes included in the bill or being negotiated.

For more insights, visit RSM’s Tax Policy Resource Center.

Our speakers

James Alex


Areas of focus: Tax Policy

Fred Gordon

Senior Director

Dave Kautter


Mathew Talcoff

National Industry Tax Leader

Event details

Who should attend
Tax professionals and finance executives

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