Taxes are once again at the forefront of the public policy debate as legislators grapple with how to fund new infrastructure spending, among other priorities.

The Biden Administration has proposed about $4 trillion of new federal spending over 10 years, partially funded with higher taxes on individuals and businesses, while prominent members of the House and Senate have put forth bills that include everything from increases in capital gains and corporate income taxes to new individual and business tax credits.

The American Families Plan would raise the top marginal income tax rate from 37 percent to 39.6 percent.  Read More

The American Families Plan would tax long-term capital gains and dividends as ordinary income for taxpayers with taxable income above $1 million.  Read More

The American Families Plan would tax capital gains at death for unrealized gains above $1 million ($2 million for joint filers). Read More

The American Families Plan would limit 1031 Like-Kind Exchanges by eliminating deferral of gains above $500,000. Read More

The American Families Plan would tax carried interest as ordinary income. Read More

The American Families Plan would expand the 3.8 percent Net Investment Income Tax (NIIT) to apply to all sources of income above $400,000, including active pass-through income. Read More

See the entire summary…