Ways and Means to Begin Reconciliation Debate – Tax Draft Expected Next Week

House Ways and Means today announced that the Committee will mark-up, or work to finalize, the initial reconciliation draft beginning on Thursday of this week.  The Committee will begin with major components of the Biden Build Back Better agenda, tackling issues such as paid leave, healthcare, and trade.  While the tax title, the portion of the legislation that would potentially include muni provisions were not included in the initial release from the Committee, more details are expected by week’s end for next week’s Committee mark-up schedule.  We remain focused on the municipal provisions included in the LIFT Act which was introduced earlier this year by House Ways and Means Member Terri Sewell (D-AL).

This package includes:

  • The reinstatement of tax-exempt advance refundings,
  • Raise the BQ debt limit, and
  • Creation of a new direct-pay bond exempt from sequestration. 

The MBFA and BDA will continue to provide updates as they become available.

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