3 minute read 10 Jan 2022
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Congress returns with BBBA on the agenda – path forward is unclear

Authors
Ray Beeman

Principal and Leader, Washington Council Ernst & Young

Former congressional tax staff for Ways and Means and Joint Committee on Taxation. California Golden Bear always.

Kurt Ritterpusch

EY Northeast National Tax Senior Manager

Former reporter. Proud dad. Drum and motorcycle enthusiast.

3 minute read 10 Jan 2022
Related topics Tax

The Build Back Better Act faces an uncertain path in Congress following objections from Senator Joe Manchin (D-WV).

As part of his objections to the BBBA, Senator Manchin cited the long-term budget implications of temporarily extending the Child Tax Credit expansion and other provisions with the expectation that further extensions could be enacted in the future.

In response, Senate Majority Leader Chuck Schumer (D-NY) said that the Senate will consider the BBBA early in the new year “so that every Member of this body has the opportunity to make their position known on the Senate floor, not just on television. We are going to vote on a revised version of the House-passed Build Back Better Act — and we will keep voting on it until we get something done.”

It isn’t clear if and how the bill would be modified beyond its current form – changes have already been made to the House-passed version – and a vote could either allow the legislation to advance or serve as proof that it doesn’t have sufficient support in its current form and lead to more significant revisions.

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Summary

While the path forward remains unclear, Democratic leaders are determined to reach an agreement.

About this article

Authors
Ray Beeman

Principal and Leader, Washington Council Ernst & Young

Former congressional tax staff for Ways and Means and Joint Committee on Taxation. California Golden Bear always.

Kurt Ritterpusch

EY Northeast National Tax Senior Manager

Former reporter. Proud dad. Drum and motorcycle enthusiast.

Related topics Tax