The House Ways and Means Committee on April 28th unanimously approved its “Views and Estimates” letter that broadly outlines the committee’s tax and legislative agenda for the next fiscal year.
On taxes, the letter states that the committee will focus on providing tax relief to middle-class taxpayers:
The tax code influences nearly every aspect of middle-class economic struggles: wage levels, housing and health care markets, access to higher education and worker training, and the cost of raising children. The Committee will examine policies that deliver more inclusive economic growth that supports and grows America’s middle class. These worker-focused policies will include infrastructure investment, retirement savings, workforce development, access to higher education, and small business growth. In addition, the Committee will continue to review other tax matters, including full and fair administration of the tax laws by the Internal Revenue Service (IRS)…
The letter also states that the committee will examine the tax policies included in President Joe Biden’s budget request, which includes tax increases on businesses and wealthier taxpayers.
It is worth noting that the letter does not state that the committee will approve the president’s tax proposal. A big reason for this is because Committee Republicans would not support the Views and Estimates letter if it stated that the committee would approve Biden’s tax proposals.
From the letter:
The Committee is reviewing the President’s Fiscal Year 2023 Budget. The budget proposes significant changes in a number of areas within the Committee’s jurisdiction. Over the course of the year, the Committee will continue to examine and consider the proposals in the President’s budget and provide oversight of Administration policies.
Congress's 2023 fiscal year begins on October 1, 2022 and ends on September 30. 2023.
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