Thanks MVT, very impressive reading. This may well become law if the Parliamentarian rules the BBB Act qualifies as "Budget Reconciliation" thus avoiding a 60-vote threshold in the Senate, and Sen(s) Manchin & Sinema hold the line and vote for it.
And, or, the House doesn't lose 3-votes.
The howls of the Repubs for "tax simplification" are ignored in this proposed legislation, just the opposite.
If passed, this Act will necessitate major changes in tax software, and us Practitioners learning all of it.
High earners will pay much more, and estates will lose the $22-M exemption, reduced to $5-M each.
If the stars align, this may all happen by end of Sept.