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The Biden Administration’s Renewed Tax Plan: Impacts to the PE/VC Industry
Posted by Nate Smith and George Cobleigh on Mar 30, 2022 5:08:29 PM

President Biden’s latest budget proposal calls again for higher corporate and individual tax rates, ordinary tax rates for carried interest, and proposes a new “Billionaire’s Minimum Tax” that would subject wealthy individuals to a minimum 20% tax rate on income that includes unrealized capital gains. These and other tax proposals were outlined in the Treasury Department’s annual Green Book on March 28. The Green Book represents the President’s “wish list” for tax policy, while Congress must draft and pass any associated legislation. Although the fate of the Build Back Better Act (BBBA) remains stalled in the Senate, the Green Book is intended to help shape ongoing and future negotiations in Congress.

The major points from this year’s Green Book and some observations follow. We begin with major business provisions, and continue with individual provisions most likely to be relevant to the Private Equity and Venture Capital (PE/VC) space.

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Topics: tax planning, Private equity, venture capital, Private Equity & Venture Capital, PE/VC, Biden, President Biden, Green Book, Biden Administration

What the Treasury’s 2022 Revenue Proposals Could Mean for Private Equity and Venture Capital
Posted by Claudia Mullen on Jun 3, 2021 2:53:29 PM

More details emerged from the U.S. Department of Treasury about how the Biden administration would fund its ambitious infrastructure and education plans, the American Jobs Plan and American Families Plan respectively. A closely divided Congress puts a focus on the cost of new programs. In the event that bilateral support for new legislation could not be reached, Congress might follow a budget reconciliation process to pass the legislation. The budget reconciliation process requires legislation to be budget neutral after 10 years.

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Topics: Private Equity & Venture Capital, PE/VC, Green Book, AFP, AJP, American Families Plan

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