SBLC Provides Update (CONT’D FROM PAGE 54)
the next likely bill – sometimes referred to as the human or social infrastructure bill – the American Families Plan. American Families Plan As a companion to the American Jobs Plan, the Presi- dent has also announced that he will be dropping another proposal for investments into health and families – which will be known as the American Families Plan. Such propos- al could come out as soon as this month. Certain members of the progressive wing of the Dem- ocratic caucus have already expressed their interest in consolidating elements of the American Jobs Plan and the American Families plan into a single piece of legislation in order for more bi-partisan elements to pressure support for other more liberal agenda items. However, speaker of the House Pelosi has indicated that she anticipates keep- ing the legislation arising out of the two proposals sepa- rate. Of course, all of this is difficult to predict without hav- ing yet see the American Families Plan. Visit http://sblc.org for more information. The Small Business Legislative Council (SBLC) is an in- dependent, permanent coalition of trade and professional associations who share a common concern for the future of small business. The purpose of SBLC is twofold: to con- solidate the strength and maximize the influence of busi- ness on legislative and Federal policy issues of importance to the entire small business community; and secondly, to disseminate information on the impact of public policy on small business.
opposes an increase in the corporate rate to 28 percent but that he might support an increase to 25 percent. Sen. Manchin has also expressed that he thinks an infrastruc- ture package should be bi-partisan rather than be passed through reconciliation. However, the Senate Parliamentari- an did recently rule that Senate Democrats have two more chances to pass legislation through the reconciliation pro- cess this year – first by including reconciliation instructions in a revised 2021 budget proposal and then through the 2022 budget proposal. Given the sticking points over tax- es, if the caucus can keep all of its members on board, there is a very real chance that they will try to pass some or all of the infrastructure proposal through on a simple majority. The President is also facing pressure from certain mem- bers of his own party who have expressed that they will not support any tax changes that do not include a repeal of the cap on the deduction for state and local axes. The White House has indicated that it is open to the inclusion of a repeal of the SALT cap but that such a change would need to be then offset by additional revenue raisers. Note that at this point none of the negative estate tax changes set forth in Senator Sanders’ recent bill nor the loss of the step up in basis proposal advanced by Senator Van Hol- len are in the American Jobs Plan. Many believe these ad- verse tax changes will be used as a partial way to pay for
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April 26, 2021
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