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Part 1: Understanding President Biden’s and Congressional Democrats’ Tax Plans: Individual and Pass-through Business Taxes

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Note: This is the first part of a dual webinar event. Join us for the second webinar, “Understanding President Biden’s and Congressional Democrats’ Tax Plans: Corporate Taxes,” on Friday, September 17th at noon ET.

Register for Part 2 Here.

Throughout the year, the Biden administration and congressional Democrats have been fleshing out tax proposals as the budget reconciliation process heats up. With these expanded details, the Tax Foundation and other scorekeepers have released updated and more precise analysis.

To explain these proposals and help policymakers and taxpayers understand their impact on American businesses and families, we are hosting a Talking Tax Reform doubleheader.

Our first webinar discussion will take place on Thursday, September 9th at noon ET and will focus on individual and pass-through business tax plans, which include:

  • Raising the top marginal rate from 37 percent to 39.6 percent
  • Taxing long-term capital gains as ordinary income for taxpayers with adjusted gross income above $1 million
  • Taxing unrealized capital gains at death for unrealized gains above $1 million
  • Phasing out the pass-through deduction for taxpayers earning over $400k and expanding eligibility for certain taxpayers under that amount
  • Applying an additional 3.8 percent tax to active business income for taxpayers earning over $400k
  • And more.

Hear from today’s leading tax policy experts on the details and implications of potential individual and pass-through business tax changes, moderated by Tax Foundation Vice President of Federal Projects Will McBride.