On March 9, 2023, President Biden released his FY2024 budget (the “FY2024 Budget”), and the U.S. Treasury released the so-called “Green Book,” which provides details related to the revenue provisions in the FY2024 Budget. Given Republican control of the House of Representatives and the thin Democratic majority in the Senate, it would seem unlikely that any significant tax-related legislation would get passed in the next two years. However, the revenue proposals in the FY2024 Budget might be of interest, as certain of these proposals may be included in future legislation.
