On Tuesday, Sept. 7, House Ways and Means Committee Chair Richard Neal (D-MA) released part of the committee’s portion of the Build Back Better bill—the expected $3.5 trillion budget reconciliation measure to advance the more progressive items within the Biden administration’s legislative agenda. This alert summarizes Subtitles A (Universal Paid Family and Medical Leave) and Subtitle B (Retirement).
Released Committee Portions
The legislation contains 12 weeks of paid family and medical leave, investments in child-care facilities and workers, protections for the elderly and those with disabilities, requirements that employers automatically enroll employees in IRAs or 401(k)-type plans, an expansion of Medicare coverage to include new vision, dental and hearing services, and plans to modernize Trade Adjustment Assistance programs. The full text can be found below:
The committee will meet this week to mark up these portions of the bill. It has planned a two-day markup, meeting on Thursday, Sept. 9 and Friday, Sept. 10 at 10:00 a.m.
Remaining Committee Portions
This week’s release is not the entirety of the committee’s portion of the reconciliation bill. Provisions not in the draft bill released this week include:
- Tax increases for wealthy individuals and corporations or other significant revenue-raising provisions
- Increases to the Child Tax Credit (CTC) and the Child and Dependent Care Tax Credit (CDCTC), and a payroll tax credit to help raise wages for child care workers
- Green energy incentives
That portion of the package reportedly is still being developed in discussions among congressional Democrats, who are aiming for more widespread agreement on those items prior to committee consideration. The tax portion could be released as early as Friday, Sept. 10, with a markup potentially occurring early next week on Tuesday, Sept. 14 and Wednesday, Sept. 15.
Click here for the full summary and analysis.