Donald L. Korb and Andrew Solomon (Sullivan & Cromwell) review the US legislation designed to support climate and health care initiatives, which contains three significant tax-raising provisions.
From the very first days of the Biden Administration the progressive wing of the Democratic Party in Congress has wanted to enact legislation that would make sweeping social economic and tax changes including enacting a so-called ‘Green New Deal’ that would lessen if not totally eliminate the country’s dependence on fossil fuels for its source of energy. However even though the Democrats have control of the US House of Representatives the US Senate is evenly divided between Republicans and Democrats which means that the progressives have been frustrated by their inability to advance their agenda.
As we have written before (see our article ‘What next for US tax policy?’ Tax Journal 21 January...
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Donald L. Korb and Andrew Solomon (Sullivan & Cromwell) review the US legislation designed to support climate and health care initiatives, which contains three significant tax-raising provisions.
From the very first days of the Biden Administration the progressive wing of the Democratic Party in Congress has wanted to enact legislation that would make sweeping social economic and tax changes including enacting a so-called ‘Green New Deal’ that would lessen if not totally eliminate the country’s dependence on fossil fuels for its source of energy. However even though the Democrats have control of the US House of Representatives the US Senate is evenly divided between Republicans and Democrats which means that the progressives have been frustrated by their inability to advance their agenda.
As we have written before (see our article ‘What next for US tax policy?’ Tax Journal 21 January...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
