While all signs point to the fact that, given the current makeup of the House and Senate, the Build Back Better bill on the table last fall is essentially lifeless, some of the policies contained in the bill may be back in play in 2022.
A possible alternative path for some of the policies contained in the BBB bill is inclusion in smaller, more targeted pieces of legislation. (For prior coverage, see BDO’s alert “The Build Back Better Act in a Legislative Lull”). Whether or not some or all of the tax policies in the BBB bill are revived this year, Congress will nonetheless need to address what has become an almost annual ritual – passing tax extenders legislation.