This week, President Biden signed into law the Infrastructure Investment and Jobs Act. The $1.2 trillion bill provides over $500 billion in new spending for physical infrastructure such as roads, bridges, rail, airports, power grids, and internet access, among other things.
Unlike the larger Build Back Better bill that is still under consideration in Congress, the Infrastructure Investment and Jobs Act does not contain tax provisions that alter income tax rates, deductions or credits.
Nonetheless, there are a couple of provisions that we want to make you aware of:
We are here to help you sort through the ever changing tax legislation and expect to send out a communication once the Build Back Better bill is signed into law. In the meantime, don’t hesitate to reach out to discuss your personal situation.
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