Biden Administration's 2024 Green Book Tax Proposals: Overview and Debates

The Biden Administration has released the 2024 Green Book tax proposals, aiming to address tax system inequities and generate additional revenues. The proposals include measures to increase corporate taxes, tax wealthy individuals, expand tax credits, and implement international tax reforms. Arguments for and against each proposal have been presented, highlighting the complexities and multi-faceted nature of tax policy discussions in the United States. With a divided Congress, the likelihood of these proposals passing currently seems slim, but they could serve as a template for a second term if the Democrats win back the House and Biden is re-elected.