President Biden Details Scaled Back Build Back Better Act – Amending QSBS Remains a Proposed Way to Help Pay For It

On October 28, 2021 President Biden laid out his case for a scaled back version of the originally proposed $3.5T Build Back Better Act, reducing the cost to $1.75T.  

The bill includes various tax reforms to generate the $1.75T needed, including the following:

(President Biden Announces the Build Back Better Framework)

The text of the bill details the full list of “pay for’s”, including keeping the amendment to make the Qualified Small Business Stock exclusion based on Adjusted Gross Income unchanged from the bills initial release in September. The bill is far from finalized and we will continue to monitor developments. If approved by Congress, the bill would likely move to the Senate for further revisions.

Refer to the “RULES COMMITTEE PRINT 117–17 TEXT OF H.R. 5376, BUILD BACK BETTER ACT” at (see page 1645 for the QSBS amendment).

The scaled back bill includes the following key initiatives and their costs:

(President Biden Announces the Build Back Better Framework)

This article does not constitute legal or tax advice. Please consult with your legal or tax advisor with respect to your particular circumstance.

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QSBS Expert was founded by a group of entrepreneurs, investors, accountants and lawyers who came together when trying to navigate a QSBS situation of their own. We quickly realized that the regulations left a lot of open questions and the publicly available information was confusing to sift through…so we thought that others may also benefit from having a “go to” resource for all things QSBS.