The U.S. Department of the Treasury has issued detailed information about the Biden administration’s tax proposals for fiscal year 2022 for the American Jobs Plan and the American Families Plan. Traditionally, the tax community has referred to this annual publication as the “Green Book.” The proposed provisions detailed in the Green Book include: increasing income tax rates for those with the high est incomes; eliminating the carried interest preference and the like-kind real estate preference for high-income earners; and taxing capital income for high-income earners at ordinary rates to the extent income exceeds $1 million. Read the Green Book here: General Explanations of the Administration's Fiscal Year 2022 Revenue Proposals
