House Ways & Means Committee Releases Tax Reform Legislation

20 September 2021
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Key takeaways:

  • The House Ways & Means Committee recently released proposed tax reform legislation that outlines significant changes to the taxation of individuals, corporations and multinational companies.
  • The proposal increases tax rates for high-earning individuals and large corporations, limits beneficial treatment of carried interest, introduces new limitations on U.S. interest deductions for multinationals and increases taxes on foreign earnings of U.S. multinationals and investors.